In coolant there are chemicals and water ,in the engine there are different metals and the hoses may have carbon and stray eletric currents, heat and some gases .As the coolant deteriorates it turns slightly acidic which starts the dissimilar metals, rubber with carbon to make electricty which increases the deterioration and on and on. I have seen water pump with aluminum impellers dissolved by the eletrical currents. The same as in a boat where sacrificial anodes are used ,as the anodes dissolve first. In a auto's system the coolant is changed ,in some big trucks I have worked on, there are coolant filters that have stuff in them that adds the chemicals that" wear out"