Most subsea and sea level components including pipelines have sacrificial anodes welded to them. The anodes are made from a metal alloy with a more "active" voltage (more negative electrochemical potential) than the metal of the structure it is protecting (the cathode). The difference in potential between the two metals means the anode material corrodes in preference to the structure. The anodes sacrifice their material to the benefit of the steel. It may look rusty but the basic integrity is sound. Anodes are replaced before they lose critical mass.
All the equipment being installed now has decommissioning costs built in as when its service life ends it has to be removed to return the the sea bed to its original state.