Yeah, it's a heavy comp, but it's combined with the actual playing style, which is a really slow drag across the chord each time.
I think it's either combined with a slight delay panned half right, or it has a close & ambient mic, panned centre & half right, so the sound seems to spread slightly towards the right each time.
There could be chorus on it too, or it's a side effect of the delay [however generated]. I'm not hearing a distinct double-track.
I think they've copied the "Bowie mic" thing from Heroes [but without the gate, perhaps] & had one long ambient mic panned off-centre. That would automatically be duller than the close mic. Distortion doesn't have to make it dull, especially if you use a really saggy amp*. That amp doesn't sound like a modern hi-gain, smooth noise, it's an older amp with perhaps slightly past their best valves or capacitors.
*I loved it when I discovered if you 'turn round' the amp faces in Native Instruments' Guitar Rig you could actually dial in an amount of sag. It made my day because I actually love that noise, if nicely controlled.