It would be more accurate to say "suck out" rather than "squish". The pressure is lower in the mask. So the cavity acts like a vacuum trying to pull out your eyeballs.
Yes, the ridge of the mask may feel like it's crushing into your face (and cause bruising to the soft tissues it contacts), but I gather the broken capillaries and bruising in your eyes from the suction are what pose the bigger risk.
The condition is called mask squeeze (or facial barotrauma) and I experienced it once shortly after I got a Hydro Optix mask, which has a larger volume of air compared to normal masks. It was before I appreciated how much extra air you need to blow out through your nostrils while equalizing it, and occurred on a descent that went a little faster than I preferred as I was paired up with a less experienced diver who had some initial buoyancy issues and I decided to stick with her in case she needed help rather than slow my own descent.
It was scary at the time (eyes got bloodshot red like a vampire), but the good news is most cases heal up fine with time.
The Hydro Optix is a great mask if you use it right (shame they went out of business), and SCUBA is an incredibly rewarding sport if you train properly and stick within your capabilities (happy to say that diver doubled down on the sport instead of giving up, got some more training, and now has hundreds of dives under her belt and is a highly competent divemaster).
Good reminder if you feel pain while diving to listen to it and surface to figure out what's wrong. Don't be tempted to power through.