Yes. Based on the example from the link above you could do something like this (this is using PHx syntax which is available within ditto chunks):
[+type:is=`reference`:then=`[+description+]`:else=`[+content+]`+]
This is basically saying to load the description field (document variable) if the document is a weblink (which is identified by type reference) otherwise load the content field.
You could adapt this as needed. In this example I would add the image reference to the description field (manually) and instructed ditto to display that for weblinks. You could also use any variable (template or document), you could even use a richtext template variable to simulate the standard content editor.
BTW - you would place the code above in your Ditto template chunk in the place that you reference the document content.