Nah. Extracting (all phases) is faster than compressing/encrypting. On modern CPUs it's negligible -- one of the reasons on-disk compression on filesystems like ZFS and btrfs are so effective. It can actually be faster to read a compressed block from disk and decompress it on the fly than it might be to have the same data uncompressed on the disk and wait for the reads (more I/O). CPUs and RAM are substantially faster than storage (even NVMe SSDs). There's some benchmarks on the
project page for lz4 (a popular and fast algorithm) if you're curious. Even on comparably shitty hardware like the Switch SoC, decompression is still going to be a lot faster than reading equivalent data from storage.