You could, sure! Absolutely. If you were planning to heavily EQ away (or boost) part of the signal that could be a factor.
But then I would say that is opening a more broad discussion about the role of EQ/preamps at different places in your signal chain, more than it is about compression. Having an EQ at the start (i.e. on an active bass, before any effects), in the middle (before and/or after other effects), or at the end (on your amp) can and does suit different purposes.
Similarly, putting a compressor after distortion can be very cool for certain things as well, to make the distortion sound tighter/crunchier. I actually have a second compressor there on my board (built in to my mid-chain preamp, actually) but I don’t use it super often.
So for general utility, I like having my compressor first.
To reiterate what others have said though, there is NO wrong way to do this, as long as you can get the sound you want.