It could be done- but the cost to do it would exceed what it is worth. With time and the right tools a master craftsman could mod my Squier P to play and sound like your Fodera or Smith. (and in a band setting noone would hear the difference).max money, to me, equals max comfort. You CANNOT build me a squier that plays like my Fodera or Smith, nor can you build a GK that is as light or sounds as good as my Berg + Tecamp combo. Seriously.
The real question is how much of the Squier would be left?
The other thing to keep in mind is what we widely consider the greatest bassists of all time played on crappily set up basses with crazy high action and other problems- Jaco. Entwistle. and of course Jamerson- I believe his strings were like 3/8 of an inch off the fretboard!