Yes, and that idea is based on theories assuming things are probabilistic. Thus bringing us back to my second paragraph. That falsely assuming things are probabilistic works very well in practice. But it may break down under certain conditions, and there may be loopholes.
Edit to add:
I think this whole thing is very related to pseudo random number generators and keystretching. Maybe computability theory too. If you have a 1gig file generated from a 128bit seed, then the apparent uncertainty (1gig) is much higher than the actual uncertainty (128bit). But since it's so very hard to undo the prng, it will behave very closely to something with 1gig of actual uncertainty.
Edit to add again:
A fun thought experiment is someone "encrypting" chemical energy into heat, putting the key in a box, only to later go back and decrypt it back into chemical energy.