Understanding the explanations of Status Effects, Buffs, Debuffs, and general Keywords has always been a challenge in both Remnant games, whether it's Remnant: From the Ashes, or Remnant 2.
Although there aren't an excessive number of Status Effects, and some descriptions can be found when a particular Status Effect is inflicted on the player, there is no in-game codex for players to browse through and obtain detailed information. The developers at Gunfire Games deliberately chose to let players figure things out on their own, similar to how they approached the Archon Archetype unlock. So, to assist Remnant 2 players struggling to comprehend the true effects of things like Corroded, here's an explanation of all these elements.