Well, I am 'attuned' to such remedies being feasible because a lot of my covid time has been spent watching videos of people restoring broken stuff. Including audio gear, including R2R, like
this guy did.
The big thing, here, is parts availability. And then finding someone who can use the parts the way they are supposed to be used. From the point of perfection, my guess is that most 'consumer' grade machines were always aligned on the 'close' side of 'accurate'. I don't recall any consumer open reel machines having azimuth and auto bias controls, like the better cassette decks had. Maybe some had them, but I don't remember.
This Otari? Unless one is just interested in having something cool to look at, it deserves top notch care. Otari is still in business; at least in Japan. Whether they offer parts? Their web site doesn't show anything looking like open reel support, but I don't read Japanese.
You can find outfits specializing in the refurb of high end decks like this one, Studer and Revox, et al. But generally you get what you pay for, and I'm sure these places don't give it away. However, if you're serious, then it makes sense. Otherwise, you just have something that looks cool, sitting in your rack. And no matter, it's true that there's not much in hi-fi land that looks as cool as an open reel deck.