LDs are just the NTSC signal on the disc, the same way a CD is just raw audio on a disc (wrong! See replies). That means no compression. And given they didn’t have the higher density discs we got with DVDs they had to be the size of LPs and flipped mid movie.
DVDs were digital so the video could be compressed.
Except LDs aren’t like CDs, it’s sort of the other way around! Laserdisc came out 5 years before audio CDs. That blew my mind when I first heard it. Came out in ‘78.