95% is not "as good" as 100%. Period. If you do face a historically bad sequence of returns, or underestimate your expenses, or have unexpected large expenses, having the extra of 100% will certainly be better than 95%. Both may break, but 100% will break less, and you won't have to do as much cutting of what you thought were essentials.
Or put it this way. I want a buffer. I guess that's the suspenders to go along with my belt. 100% is 95% with a buffer. I actually want 100% with a buffer, but I need less of one at 100% than 95%. Is 100% with a buffer bullet proof? Of course not, but it's more bullet proof (better) than 100%, which is better than 95%. I probably will never need that buffer nor the extra 5%, but I sleep better with it.