Today, color correction refers to all the steps that improve and make an image better than the real image. Improving an image means to effort (if necessary) an all its subsets, exposure, contrast, saturation, color variation, and sharpening.
It is a field where there are two prominent working user categories, professionals, and amateurs, and they have individual goals.
I think, the true purpose of color correction, that is a blend of technique and art of skill. Professionals works to make things possible, to make images consistent, results unsurprising. Amateurs pursue an impossible dream, to achieve image by image perfection