No, so-called inferior sources firstly may not be that inferior (Spotify at 320kbps I suggest is transparent for almost everyone), but also if they are inferior, it's not due to frequency response errors that need correcting. Their inferiority, if any, is due to the nature of the bit reduction used, which still passes the full 20-20kHz bandwidth, but has more or less audible artefacts which depend entirely on the nature of the programme material. Some will be completely transparent, some will have low levels of 'burbling' (I can't think of a better way of describing it) which isn't like noise or distortion, but means that on a straight A-B comparison with the original, the bit-reduced version will sound 'different'. Note also that this 'different' isn't necessarily worse, some people have actually expressed a preference for the sound of MP3.
There is no way I know of restoring or improving the sound from these 'inferior' sources that wouldn't equally apply to the original. Once audio has been through MP3, Ogg, or whatever bit reduction, it can never ever be recovered. It will always be tainted by the process. That doesn't necessarily make it sound bad, although it might, but it will never be identical to the original.
S.