This is only possible in 1914. After that point it was not possible for the Central Powers to actually win, only to stave off outright defeat for a certain length of time.
While I 100% agree with what you said, I do think people way too often rush to a "the Central Powers could never have won!" narrative for World War I because they define "win" in such absolute terms. This is of course on some levels fair given German high command was still pushing for an absolute victory into literally 1918, but a less ambitious and/or German leadership certainly could have avoided losing World War I on numerous occasions past the failed push to Paris, IMO.
I also think this holds true to a lesser extent for World War II. It is SO popular to almost the point of being cliché now to emphatically state that Germany never had a chance during World War II, and I get at least kind of annoyed by it, as it takes away a lot of the drama that people experienced during that era. I mean, CLEARLY the people of the time thought the Axis could win. What I would say is more accurate is that the Nazis could never have won World War II with the aims that they were so fanatical about. There were multiple times during World War II where competent German leadership could have kept its borders in tact, IMO ... or at least avoided troops ending up in Berlin. Then again, what IS World War II without the Nazis and their ideology, so I'll acknowledge this is kind of semantics.
While an outright Man in the High Castle style Axis win is crazy, it could have been even worse than it was. If Germany had waited to backstab the Soviet Union until after Britain surrendered, we almost surely end up in a cold war with Germany instead of Russia.