Yes sadly your right. although I’m hoping I don’t have to keep the Ranger long enough for serious corrosion to become an issue.They all design and build their chassis to fail. Hopeless paint. Rust traps. Holes specifically placed to allow the ingress of salty road water to ensure that the chassis also rusts from the inside out. It would actually cost them less to build by not stamping holes in the outer walls and it wouldn't cost much to dip the whole chassis in zinc based primer before coating in a better grade of topcoat.
Not one brand builds what I would class as 'a quality product'. The may or may not be reliable for a good few years and may drive nicely and the panel gaps are small and even, but they specifically avoid building quality products in the way I measure major aspects of quality. If its not built to last long term, it is not a quality product.
Waxoyl is pretty hopeless stuff but better than nothing on a new chassis. It won't do anything worthwhile on a chassis that has already started to get rusty. I have always Waxoyled new vehicle chassis in the first couple of days after delivery. Done it since late 1972 when I removed the wheels of the new MF165 and pained underneath the mudguards to protect them.
A couple of weeks ago I power washed the chassis of the Ranger and, after it had dried, sprayed oil and diesel mix over it. Not EP90, which I once used on the Land Cruiser which literally caused a stink for a year afterwards. The oil and diesel mix keeps the previous Waxoyl soft and active. Not much Waxoyl left of the original in the visible wheel arch area which is power washed now and again, which isn't a surprise when considering that the Ranger is now seven years old.
I've rubber plugs and plastic stop-ends blocking all the visible holes in the outer chassis walls in the wheel arch areas, so that if they had sprayed any paint inside the chassis box sections it would remain clean, dry and rust free inside. Holes in less vulnerable areas and the inner chassis walls are left open to provide ventilation.
Still would like to keep the chassis something like though regardless.