I’m not sure I’m losing overtones, but maybe I am. However, in a mix, it seems to sit better, maybe that means stand out, without interfering with other sounds in the mix, which may cause sonic mush.
The long and short of it is, if you don’t like what compression does, don’t use it, there are no rules that say you must or must not use a particular sound, which also applies to eq or any effect. If it sounds good, it is good. As I said, YMMV.