We could sit here all day and dream up scenarios that handicap the 2700. The only possible way a 1300 could win.
That's how humans are, though. Where do we draw the line? If you think about it, who plays at their exact rating? Maybe a 2700 will play like a 2697 on one day, and a 2699.98 player on another. In fact, a 2700 will rarely play exactly like a 2700, because that would require perfect consistency, which is something that humans just don't have.
Even the current 2700 players aren't that way because their mind literally restricts certain bad moves from happening. They're just very unlikely to play certain kinds of bad moves. But they still can, and have.
All we know from watching 2700s play is that they are likely to do certain kinds of things and unlikely to do others. That doesn't mean they can't do these things.
Humans will be humans regardless of what rating system we create. You can't physically get rid of having a blind spot. All you can do is measure how rarely it happens :)
Ah, but it's not random, it just appears random. The same way flipping a coin isn't random. The same way oversights aren't random. It appears all moves are possible, but they aren't. I'll argue that stable ratings are evidence of this. (At least when we're assuming both players are serious and trying to win or draw.)
Going by your coin example, what I'm saying might be something like, technically, every coin flip ever done could have been heads. But in practice it's 50/50. But it didn't have to be that way -- there isn't this magic force that keeps that from happening. It just turned out that way.
And of course when I say random, I mean, based on the information we have. I'm saying that the knowledge we have about what 2700s are like, still nevertheless don't rule out them getting outplayed by a 1300. It just means, you'd be really stupid to ever bet on it.