Perhaps. I would think all of the ones who originally wrote and recorded the songs that Led Zeppelin recorded might have thought their version was better. And I would agree that they should be compensated and credited for their work in writing those songs.
Of the original versions I have heard Led Zeppelin just stomps all over them.
What prompted this meme is I listened to Anne Bredon's recording of her song "Babe I'm Gonna Leave You" (https://www.youtube.com/watch?v=A9VpWAEk6aI) and not only is her voice horrible but the song is a complete nothing. Then I found out that Joan Baez altered it and made her own recording of the song (https://www.youtube.com/watch?v=TScCqHlBag0) and she did nothing to improve it with her screechy voice. If you listen to those and then listen to Led Zeppelin's version (https://www.youtube.com/watch?v=v0IJPytL-bk) there's just no comparison. Led Zeppelin took a boring song recorded by two women whose voices I could not stand and made magic out of it.
Bowie did that a few times as well but not every time. Bowie's cover of Wild as the Wind (https://www.youtube.com/watch?v=YsqlXkkEKxI) was tragic. But then I am not a fan of that song to begin with. There are a bunch of songs on Bowie's Heathen album (release in 2002) were covers. When I found the original on YouTube it was like hearing fingernails on the chalkboard. Bowie turned them into gold. Unlike Zeppelin, Bowie credited the song writer.