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No. Compression is the way to reduce the size of the data footprint while recording data. This is the principle that governs video data as well, known as codec. The actual data of a recorded movie is lot larger than the one you stream or watch on your computer.
I believe that ros does a pretty good job of compressing incoming image data and hence you see a bloat in the image size when you decompress it frame by frame. You can read the source code of compressions here
If you want to compress it further I would recommend use ros to generate all the images and then compress everything using a video codec using ffmpeg. There is information about that on this stack overflow question.