Thing is I own and have owned basses that costed over a 1000$, and no doubt they were great basses, still the Mikro suits my personal preferences better, and with the stock pickups swapped out for a set of P/J Geezer Butler ones it came to sound exactly like I want my bass to sound as well.
Buying a budget bass is definitely a bit of a crap shoot, since quality is usually very inconsistent from instrument to instrument, a few will be pure crap, by far most will to more or lesser degree fit into the decent to good category, but a few will be truly great instruments, and if you are lucky and get one of the great ones that was made from great pieces of wood, with perfectly leveled frets e.c.t, there is really only the cheap hardware and electronics to differ them from more expensive basses, and that can easily and relatively cheap be updated.
It's really fairly limited how much you can improve on a relatively simple design as the electrical bass before it just becoming extra whistles and bells that doesn't really effect playability and tone much.
You are free to believe otherwise, but I will still say it will be mostly an illusion.
If you are into pretty hi-fi tones there might be some truth to it though, but while such tones does have their place in music I personally think they lack character.
As for your question, yes, I can imagine a better bass for me, it's just that it's not currently in production, or ever was, so I would have to have it custom made, and I don't have that kind of money.
Meanwhile the Ibanez Mikro that I got gets me close enough.