As with most generalities, you cannot count on this idea to be true for every case. 10 years ago this week I joined a gym, started working out (the one New Year's resolution I have ever managed to keep longterm!
, and have gone from a skinny kid to a pretty muscular man. (It is really weird to observe the difference between people who knew me before I started working out, to whom my size comes as a surprise, and those who met me since I have been lifting, who think of me as "that muscle guy"! But I digress.) I was never trying/needing to compensate for my penis size, in fact, one very
small motivating factor when I started working out was the idea that if I had a "studly" dick, I should have a body to match it.
But here's an example of a guy who I have observed at my gym who I strongly suspect fits this stereotype (though I have no actual confirmation). But let me describe my observations and see if you draw the same conclusions. First let me say that I only noticed this guy because he is one of those guys that struts around the gym in a way that deliberately draws attention to himself--he puts on a show and, what can I say, I'm easily amused, so I paid attention to it a couple of times. To start with, his is a very tall, good looking guy, and he has built himself a HUGE body. Very big and well-proportioned--the kind of body that is enough to make a straight-guy gym rat like me think, "nice body, wish I had the time/genetics/dedication to get that built."
Anyway, the guy knows he is built and envied. He struts around the workout floor in a too-small muscle shirt and skin-tight tiny spandex shorts (and, I will say, that I get the sense he is trying to pick up the ladies, not other guys, but he likes to make the other guys envious of his body). But, over those tiny, tight shorts, he wears a "fanny pack" over the front, where his bulge (if any) would be! In the locker room, he doesn't shower or even fully change clothes. He likes to stroll around shirtless for awhile, displaying his huge chest, 6-pack, etc., but with pants on. Then he will leave the gym and go out to his bright red Dodge Viper, strategically parked right near the entrance to the gym.
Like I say, I have no confirmation of his penis size, just my suspicions based on various factors: hugely developed body that he loves to flaunt + snazzy sports car, also flaunted + deliberately concealing his "package" while mercilessly flaunting his other assets. I really do suspect this guy is compensating. (I still wish I had a body like his, but wouldn't trade him my dick for it!