Correct, based on the underlying inputs we would normally expect better outcomes.
Their record should improve *more often than not*, because just like looking at the underlying inputs is a probabilistic exercise(hence why it doesn't match to begin with), so is projecting it forwards. And that assumes that the underlying inputs remain good. You can play well in the past and be unlucky and then play poorly in the future and not be unlucky, leading to an overall bad record. That doesn't mean that probabilistic model is wrong, the point is not to predict exact reality but to predict what is most likely.