I think you are dead on. Machines like Deep Blue and Deep Thought are programmed with a number of predefined games, and clever algorithms to parse the trees into the ends of those games. This is, of course, a dramatic oversimplification. There is always a chance to "beat" the computer along the course of a game. By this I mean making a move that forces the computer to make a move that is less than optimal (whatever that is). If the computer cannot find the best path before the time limit for the move, it might very well make a mistake by choosing one of the less-desirable paths.
There is another class of chess programs that uses real machine learning, or genetic programming / evolutionary algorithms. Some programs have been evolved and use neural networks, et al, to make decisions. In this type of case, I would imagine that the computer might make "mistakes", but still end up in a victory.
There is a fascinating book on this type of GP called Blondie24 that you might read. It is about checkers, but it could apply to chess.