@alok-g
I'll be happy to explain - You don't understand it correctly.
The flipjump assembly syntax does allow relating to an address with offsets/more advanced stuff, but that doesn't add anything to.the language. It' just adds comfort to the programmer - it's basically like adding labels to an assembly language - it's possible to write assembly without them, just much less convenient.
The power of flipjump results in self modifying code.
If I jump to a address that have the [flip 0, jump 0x1000], then I'll get to 0x1000 afterwards, right? But if I flip some specific bit in this instruction before jumping to it, it will become [flip 0, jump 0x1080]. You can call this instruction "memory bit", and the part of jumping to it and resulting in one of two possible addresses 0x1000/0x1040 based on a specific bit in it - "read the memory bit". The action is reading as you get to different place based on the value stored in this instruction. This "read" can also be seen as an "if".
How you write then? For example writing "1" whould be doing a "read", and in the "read 0" case - do a flip to this address, and in the "read 1" case don't flip this memory address bit.
It was once in the Readme but as I kept developing it more it become longer and longer, so I moved it into the wiki, and especially to here: https://esolangs.org/wiki/FlipJump
I dont think that the jump can be realized by NOT gates, but it's essentially "where to find the next NOT command".
The jump is indeed a crucial part of the language, as it allows going back, and especially to make self-modifying code.