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squiggly corrosion
I think that's actually craquelure. The blue tint on those parts is a lacquer which shrinks and becomes embrittled as it ages and the plasticisers bake out or break down by environmental exposure. Think of it as character rather than decay and keep riding.
My downtube shifters have some squiggly corrosion on them, which seems odd as I don't ride the bike all that much. If/when I want to tidy them up, high grade wet and dry then lacquer?