This definitely works for things that aren't images too. I previously proved that you could improve the compression ratio for WebAssembly significantly by performing lossless transforms on the module before feeding it to gzip or brotli (though the gains are much smaller for brotli since it's so good to begin with): https://github.com/WebAssembly/design/issues/1180
Probably the single oldest trick in the code compression book.
If we're using relative addresses, this would, of course, result in 69 different addresses to compress - each relative address being the difference between 0x1337 and the position of the code that calls it.
If we're using absolute addresses, we get the same exact address 0x1337 repeated 69 times - which is way more compressor friendly.