Source: Spacecraft Weathering Over Time (by Mike Doscher - ArtStation)
Inspired by ‘How Buildings Learn’ I did a concept showing the beginnings of how hard use could alter the appearance and configuration of a cargo spacecraft.
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There’s no weather in space. Maybe direct impacts by space debris or melting by a star’s radiation. Certainly not rust.
Might depend on what universe rules we use, if it can land on a planet, it could rust. But it looks to me like a serious impact/laser hit, and a busted cargo bay. Not sure what’s going on in the… back? in the last stage.
Looks like someone salvaged it and did some repairs to get it out there but might not have had enough resources to get it back into proper trim.