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100% RTP = the perfect symmetry of the mathematical model: the odds of big wins and big losses remain equal regardless of the amount wagered.

Any house edge creates a “tailwind” — a constant mathematical pressure downward. Regardless of your strategy, the game will always be slightly “stacked against you,” because the probabilities are not in your favor to begin with.
When the edge is zero, the player’s and the casino’s odds are completely equal — the results become pure randomness. Pure variance. There is no long-term pressure either upward or downward, which can lead to absolutely insane outcomes over the long run.

Net edge is your real long-term mathematical disadvantage: the game’s house edge minus the value of the bonuses you receive. Almost no one calculates this metric, and casinos prefer not to publicize it. If a slot has a 3.5% house edge and the bonuses return 50% of that, your net edge will be 1.75%.
Many players do not read the bonus terms and do not calculate net edge. They perceive a bonus as a “gift” without realizing that it is financed by a higher house edge. Bonuses create an illusion of value, but the real edge is determined by the long-term probability model.