So sure - context free geometry replacement grammars can be used to compress all sorts of natural phenomenon into some simple rules so long as you accept a number of constraints, but they don't really add any insight to what we already know.
Another way to say it is that we know that computers can compute anything that we currently know how to formulate, and we know that any compute program can be represented by a graph. Is it really that interesting to then point out you can make anything with that graph?
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The idea that it might be possible is not a huge insight, which I believe is essentially Casey's point. To find precise rule(s) that actually encode our universe would be something huge, but that hasn't happened as far as I can tell.
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