Good thought, and couldn't a zip or 7zip file also be made much smaller than any dmg would be (if it makes a difference)? Depends on the contents. - If it is a pure text file then yes zip or 7zip could be up to 50% smaller
- if there is graphic content (jpg, png, heic, etc.) a zip or 7Zip is likely end up larger than the original file(s). Even if you use a good compression utility that does not attempt to compress graphic content there is additional zip/7zip overhead.
- If the compression utility attempts to compress the graphic content the resulting file can grow to be significantly larger than the original file.
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