1280x720 vs 960x600 only requires a 37% compression; that's actually a very low ratio. They could easily have an algorithm which is lossless in the majority of situations and only becomes a little lossy for very noisy images where you wouldn't notice the loss anyway.
It's a low ratio for compressed image files. But you really can't compare a realtime, fixed size compression algorithm to something that has the luxury of analyzing an entire image and taking a relatively large amount of memory and time to compress.
Compression ratio here is fixed 8:5. An example compression method if it's 24bpp would be to compress a 16 pixel run to an 8 pixel codebook plus 48 bits of indexes.