The government is going to have to close off options. They might take the view that another referendum would be more damaging than no deal, Norway lacks enough support, so you might be right we will get into a position of May's deal or no deal.
Again we can game this, me you and Farage, representing the three voting blocks in HoP.
Me and Farage will veto referendum, you and me will veto no deal, Farage and you will veto Norway, you and Farage will veto May's deal.
The default no deal wins if I take the view that a referendum will be worse than no deal, which I do.
Play the game yourself, you can't win, I'll bet push comes to shove you will go for May's deal, I'm prepared to bet no deal, call my bluff if you like.
It doesn't matter what you, Farage or I think (or 'veto') as none of us are MPs so we aren't in a position to 'veto' anything.
Problem with your argument is that there is a strong majority in parliament that opposes no deal, so were that to look to be a serious possibility parliament would take steps to prevent it.
Interesting take on parliamentary votes on various options, as being suggested currently, on Politicalbetting - goes as follows:
1. Substitute Canada+ Ayes 100 Noes 540 [NI problem]
2. Substitute Norway+ Ayes 200 Noes 440 [Not Brexit]
3. Substitute Labour plan Ayes 220 Noes 420 [Labour support only]
4. Support bill subject to referendum no Deal versus Deal Ayes 250 Noes 390 [risks no deal]
5. Support bill subject to 3 way referendum Ayes 300 Noes 340 [too complex and risky]
6. Support bill subject to referendum Deal versus Remain Ayes 321 Noes 319 [or Ayes 319 Noes 321 and her deal is passed without amendment]
4-6 may well require extension to article 50, or if that looks problematic to get all EU27 to agree, then to rescind article 50 on the basis that once the referendum is complete article 50 would be re-enacted and deal/no deal implemented soon after in the event that leave of either flavour won.
Sounds about right to me - and problem with 1-3 is that they are simply not on the table, and cannot be without the EU's agreement (or in the case of 2, with agreement from both EU and EFTA).