I can see "completing" a machine taking away some of it's addictiveness. When I first got my Stargate I mainly played to try and beat Eye of Ra, but once I did that I had to set new goals for myself.
Really, I think what it comes down to is how much you can do in a mode based game besides modes. If the game is pretty much only modes then yeah, it will probably get boring quick. If there's a ton of stuff to do outside the modes though, then you end up with a great mix of things to do. Play a mode, do something else, play another mode, just do whatever you want to do. When I play Stargate I tend to spend most of my time outside modes in an attempt to raise the super jackpot, earn extra balls, and complete the Stargate before reaching Eye of Ra. In each game of Lord of the Rings I usually only play 2 or 3 modes, and instead focus on multiballs, tower hits, and collecting rings.