I see this argument as semi-fallacious, since it's really asking "can you recall infinite things on an infinite timescale using this method"? Sure, the math might add up, but humans are reliably fallible. I do agree, from practice, that practicing spaced repetition can increase the breadth of knowledge beyond that of "casual learning", but I've seen my brain fail on aged entries too.
Nicky Case's intro to spaced repetition is pretty stellar, both as a crash course and the reasoning behind it: https://ncase.me/remember/