I think rain or condensation can enter a headlight easy enough and be trapped in there resting in the bottom. There isn’t much in the way of sealing. I have wiped the inside of the bowl with a very light film of corrosion protection and during winter remove every light lens to take a look inside and dry out if necessary.
Whilst I don’t think the powder coating is always great there are a lot of older Caterhams with totally corrosion free chassis. The main difference comes down to when it has been driven, how it has been stored and how well it has been maintained.