Yes, iTunes is reducing the size of the photos synced to iOS devices. It is creating special previews of the edited versions of the photos. It depends on the type of the device, how much the photos will be compressed during the sync.
I had planned to use my iPad Pro as my main device in the future and it is worrying me that the photos stored on it may be reduced in quality!
That not a good idea to sync the photos to your iPad using iTunes, if you want to keep them there as the main photo library. There is no easy way to get the photos back from the iPad to the Mac, because the synced photos are not in your camera roll. You would have to use email or air drop to send them back to the Mac. You even cannot delete any of the synced photos from your iPad other than syncing them again. So you need to keep the photos on your computer to be able to sync again and to create a backup of the photos with Time Machine.
If you want to transfer the originals to the iPad in full quality, use iCloud Photo Library, see: Keep your photos safely stored and up to date on all of your devices - Apple Support