That’s one of those things that make perfect sense to me. I’m mystified in what respect that would not be a fitting icon. It’s certainly better than an “e”.
When you're on a safari in amazonas, that's what you need in order to find your way (well, nowadays a GPS might do wonders, but when the name safari was historically established, there was no gps)
Trust me, when you're out in the boondocks, you still want a compass. Sure, GPS is great. Until you can't find a satellite, or it runs out of batteries, or a gazillion other things that can go wrong with electronics in the wilderness.