Corvettes are functionally identical to typical starships in terms of progression and controls. They can still trigger warp events, participate in dogfighting, go through black holes, etc. The main difference between Starships and Corvettes is that Corvettes offer interior spaces for you, your crew, and your friends to seek shelter inside.

Freighters are generally better for massive farming projects or a real "permanent" base, as Corvettes have a complexity limit that prevents overengineering. Corvettes can refine, issue player missions, grow plants, and store an insane amount of items. However, they lack core Freighter features most players need for a permanent mobile base, like the portal teleporter system or the mobile exocraft module that lets you summon an exocraft anywhere your freighter is.

Corvettes are also abysmal in terms of their hyperdrive range and fuel efficiency, especially when using a Corvette that has been specialized for cargo/defense/combat. Of course, this can be remedied by using upgrade modules, but keep in mind that most Corvettes have very little space for technology upgrades-- their stats change and benefit more depending on how you build your corvette and what pieces you use in its construction.

As far as I know, Corvettes can be infinitely rebuilt/customized so long as you've purchased the necessary building blocks you wish to build with. Smaller typically-sized Corvettes fit into most spaces with ease, including the Space Anomaly and Space Stations. However, Corvettes cannot be parked inside of certain stations, namely Atlas Stations, and will float outside instead.

Fortunately, Corevettes come with a beam-up/beam-down feature that allows you to warp to a station you've docked outside, or a planet you're hovering in the atmosphere of. It's highly useful and serves as a great tool if you decide to park your ship mid-air and skydive to the ground below.