You've gotta look at the magnitude of difference here, to use a toy example:
Let's use a memory data rate of 1GB/s for simple maths
8GB of uncompressed textures getting moved would take us about 8 seconds
The compressed stuff at <1GB is going to be done in less than 1 second.
As long as the decompression process doesn't take another 7 seconds to complete it's going to be more performant
Edit: typo