It not only can be done, it routinely is. Especially with the Chinese watches, they often come from the factory with less-than-perfect attunement. Watch repair

It not only can be done, it routinely is. Especially with the Chinese watches, they often come from the factory with less-than-perfect attunement. Watch repairmen will take a watch like this, clean everything, maybe replace a bearing or two, use high quality lubricant, possibly even swap a gear or so if it needs it. They can also take an older mechanical in pretty bad shape and restore it to health. There's a point of no return for any mechanical device, of course.