Oh yeah. I have had bad runs for two hours or more. And I'm sure everyone here has as well.
I once folded every single hand for over two hours in one MTT not too long ago. Fortunately, I was able to amass a good, healthy stack previous to this, so I was still in the game with 12BB when I finally did pick up a hand. I got it in good, doubled up, and made a healthy cash (which, coincidentally was my last MTT cash...).
Anyways, in my situation I was playing in three tourneys and wasn't too worried about busting, nor was I paying much attention to my table. If I was, I probably wouldn't have folded for that long.
In many cases it is not the cards you hold, but the situations you use them in. Don't be afraid to raise/bluff a couple of times with marginal holdings. Your opponents don't know what you have, and if you find yourself folding alot, your opponents might give you credit for beung super tight and will lay down all but the best holdings when you do open a pot.
Play your position wisely, and pick out opponents who are willing to lay down their hands easily and raise their blnds. Doing this every couple od orbits will help keep your stack healthy enough that when you finally hit a good run of cards, you will have enough chips to maximize their value.