Seeing that Axis and Allies does not use rules such as terrain effects, experience of troops, or weather effects I consider the luck of the dice to compensate for these items.
I tend to view it the same way. Axis and Allies does not take a lot of things into account… including scouting and supplying your armies. I always viewed these things as being incorporated into the game, sort of expected and assumed.
For example, many times neither side knew where the other’s forces were. They needed scouts and intelligence organizations to figure it out. There is no “fog of war” in a boardgame. You can see everything that everyone does.
Also armies/navies needed to be supplied. Axis and Allies does not require you to maintain a merchant fleet or a force of supply trucks. It is sort of given and expected.
Now these things do not directly relate to your die rolling, but it shows that not everything needs to be accounted for by the player… including the fixing of his odds. Dropping a (fair) die and letting it bounce and roll is entirely fair and just. It is random, and that is the purpose.
Artificially compensating for losses due to bad rolling just seems like diluted cheating to me.