The storage screen also shows how much space your phone has remaining and how much space each app and its data takes up. It can also be a helpful indicator of how large an app is when manually uninstalling it, which I’ll discuss shortly.
Just note, that Apple’s support material strongly suggests that if an app is withdrawn from the App Store, you won’t be able to re-download it. If you wish to maintain any deprecated apps for archive purposes, you might not want to enable automated offloading.
Offloaded apps, unlike those deleted from your phone, will remain on your home screen or in your app library, although with a cloud icon next to their name.