Earlier quoted context omitted.
Easy: Make the "Dear " part of the email an image. Boom, deduplication fooled. (Also, they don't currently seem to do anything like you're suggesting.)
With google's machine learning brain trust, I think they could still do a pretty good job deduping. Maybe not perfect, but I'd bet on them to win an arms race. Edit: ah, codeflo and EGreg are right. I was just thinking about the task of determining that the images serve the same role in each message (which I'm sure google could do a good job of). But (as they point out) in the "Dear " case they'll still have to show…
They could do a "This sender appears to be attempting to track you. We have disabled images as a precaution. Click here to load."
Scary enough to the average user it'd probably kill the the technique very quickly.