Flatten compression algorithm setting

[arpad-m]

This flattens the compression algorithm setting, removing the Option<_> wrapping layer. It also adds a specific setting for disabled compression with the continued ability to read copmressed data, giving us the option to more easily back out of a compression rollout, should the need arise.

Implements my suggestion from #8238 (comment) , inspired by Christian's review in #8238 (review) .

Part of #5431

[github-actions]

3018 tests run: 2903 passed, 0 failed, 115 skipped (full report)

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Code coverage* (full report)

• functions: 32.6% (6933 of 21268 functions)
• lines: 50.0% (54463 of 108884 lines)

* collected from Rust tests only

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_{The comment gets automatically updated with the latest test results
5884fe8 at 2024-07-04T17:07:22.807Z :recycle:}