The problem is that real distributions of likelihood don't match these theoretical distributions. In particular, the tails are very poor matches. Bottom line, is that even that very very slim chance you are calculating isn't going to happen.
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1650 (Elo) with 300 seconds on his clock will beat Magnus every time he plays assuming Magnus have 1/1024 of his time to compansate (less than a second)
But given enough time to both but counting games not only 1000 games but even after 100.000 games with 1650 best effort on it wont get any wins or draws but on the brightside he will end up being at least 2100 Elo player after 100.000 games if not 2300. And after than magnus who is being tired of playing 100.000 games and at least being 75 years older than he is now (Assuming they can complete 4 slow games a day and still live on somehow) may horrible blunder some and lose.
(I dont mention someone who is talented and 6 years old with 1650 elo, who can be better than magnus after 100k games, i mean someone already reached his/her chess plateu but i still believe he will gain strength worth of hundreds of elo by sheer amount of practice against one of worlds best while maintaining his best performance on each game, rewriting all his habits, perfecting his opening lines, practicising (defending) tons of different middlegame and endgame positions. And have the will to do so.