There is no compression.

Of course there's compression. Unless your ears work at 16-bit 44.1kHz and not analogically. If they'd decided on a 48kHz sampling rate or 24-bit encodings, then the capacity of the disk would change significantly. And, like it or not, that's compression. Lossy compression at that, since you're losing a significant amount of data (16bits is a lot fewer than an infinite number of bits, and a 44.1kHz sample rate is, again, much less than continuousness).