Do you happen to know if it’s just put together sequentially or if there’s XORing or more complex algorithm going on there? If it’s only the former, they would still be hosting copyrighted content, just a bit less of it.
Copyright is a legal construct, not a technological one. Shuffling the file contents around doesn’t make the slightest bit of legal difference, as long as the intent is to reconstruct it back into the copyrighted work.
(Conversely, if the intent was to, say, print out the file in hexadecimal and wallpaper your house with it, that wouldn’t be copyright infringement even if you didn’t rearrange it at all because the use was transformative. Unless the file in question was a JPEG of hex-digit wallpaper, of course.)