That description is already a (excellent) compression: A bitmap for the 1000px x 1000px "O" for your poster would be 1MB.
Whereas before fonts only had rules to change with size changes, this standard defines weight as another dimension.
It's quite similar to how jpeg, mpeg, and mp3 are better compression methods for their respective domains than WinZip could ever be by incorporating knowledge about data being encoded.
Additionally, since building the fonts from the source isn't time consuming anymore, you could just focus on compressing the representations that say "circle with center blah". (Which, again, takes this back into METAFONT territory. Not a bad place to be, just bemusing.)
In graphics, delta might be better, since the glyph is offset anyway on the canvas, so when drawing, the renderer can use the diff information as-is when the last point is known to reduce the number of operations to a simple addition with smaller length numbers as opposed to absolute positioning.
It might also keep the extracted memory footprint low since you might be able to get away with less bits per encoded change in a typed array data structure.
Still wonder if Mapbox ever did some size and speed benchmarking of general purpose compressed raw signed integers vs. their zig-zag and delta encoded vector tile geometries. https://github.com/mapbox/vector-tile-spec/issues/35#issue-1...
I thought this was the definitive reason why git tracks full files, and not diffs. Turns out, that is just a better way to do things in most cases.