In that sense, they are sort of file compression.
But in other senses the metaphor breaks, because it cannot convey the similarities.
One can enjoy a myth or symbol in itself -- but a compressed file is useless unless it can be opened.
Second, the uncompressed file can be comprehended at once (e.g a movie can be viewed, a compressed doc can be read, etc). The cultural notions that are "compressed" into myths, though, cannot be understood by anyone in their entirety -- so the "compression" of the myth is somehow necessary.
Third, a compressed file is usually the work of a single person. Whereas culture (and myths, symbols etc) are a shared work of a people.