If you have something that is badly mastered like thrash metal from the 90's or something similar then you probably won't hear much difference, crap recording is just crap and no bitrate can fix that.
Bad masters can artifact codec's too because of the noisy tones, Like black metal or noise rock. When that happens cue the bit rate being 502kbps for AAC/Ogg/MPC, 320k for mp3. While on lossless it pretty much 1300kbps the whole time depending if it not Tak or wavpack, which can avg 320 ~ 900kbps on noise songs that use bad mastering to sound crunchy as hell weirdly?.