That's a valid way to look at it... but since time travel is purely hypothetical, there's no "right" answer.
Regardless, what I supplied is something that has no paradoxes, i.e. is logically sound. Without a "Zeroth Loop" we can't observe where it all started, causality breaks down. To use the example of a hypothetical perpetual motion machine again, sure you could build one... but someone would have to set it in motion for it to start working.
To use the roller coaster example - yes, everything proceeds along the one track, a loop de loop causes you to spin for a moment, and then you continue onward to the exit. But what about characters like Mide, Dayan, and Quickthinx - who only exist within Alexander's looped time? Who only exist because of Alexander's looped time? Who's operating the roller coaster?
Your present self is saved by your future self before A12, who then has to save their own past self. But then your past self has to do the same things you did... and save their own past self, ad infinitum. Otherwise we end up with a time paradox, which lies beyond our observation (if only because we are dead in those possible "futures"). There are "potential yous" who deviated from the script... we just can't observe them (i.e. the "you" who died to Alexander's Holy Judgment because the "future you" failed to save them).
... time travel is complicated.