Equal loudness compensation requires not just low frequency, but also high frequency boost...which is also apparent in your graph. Think of DEQ as a much more sophisticated version of the 'loudness' button on old receivers.
DEQ also has an offset feature that allows the user to set at what master volume level DEQ compensation starts to kick in. This exists because different sources eg movies vs pop music vs 'classical', are variously mastered 'loud' and don't need to be boosted so 'soon'.. So if you listen to mostly classical (not loud), you set it one way, if mostly modern pop (LOUD) set in another . It's a bit of a muddle, unfortunately...in an idea world, there would be 'loudness' standards across production media.
Last but not least, Audyssey brains determined (with not much literature support) that the rear channels also need overall level compensation at lower volumes, so DEQ boosts them a few dB, which a fair number of Audyssey users hate. (You can manually lower them back if so, though it's not a perfect fix)