What did the angled deck counterbalance?

Did the angled flight deck counterbalance the weight of the carrier's island?

Only partly: the island itself was not especially heavy, but the angled deck helped offset the denser machinery and exhaust trunking concentrated on the starboard side.

The visible island was not the main source of imbalance. Machinery and exhaust trunking made the starboard side a denser part of the hull because so much equipment and exhaust routing passed through the island. Aircraft, the flat hangar, and the flight deck added other moving or elevated weights. The angled flight deck helped manage that distribution to an extent, giving it a naval-architectural role beyond its obvious use for aircraft landings.