

Oh, 100%. I actually tested this by recording bit perfect copies from different streaming services and comparing them using Audacity.
I found that they only way to hear a difference between the same song played on two different platforms was 1) if there was a notable difference in gain or 2) if they were using two different masters for the same song. If two platforms were using the same master version, they were impossible to tell apart in an ABX test.
All of this is to say that the quality of the mastering is orders of magnitude more important than whether or not a track is lossy or lossless, as far as audible audio quality goes.
The thing is, dynamic range compression and audio file compression are two entirely separate things. People often conflate the two by thinking that going from wav or flac to a lossy file format like mp3 or m4a means the track becomes more compressed dynamically, but that’s not the case at all. Essentially, an mp3 and a flac version of the same track will have the same dynamic range.
And yes, while audible artifacts can be a thing with very low bitrate lossy compression, once you get to128kbps with a modern lossy codec it becomes pretty much impossible to hear in a blind test. Hell, even 96kbps opus is pretty much audibly perfect for the vast majority of listeners.