Am I explaining Rebase correctly?

Tell me if I'm explaining this correctly:

With Rebase, you have a file that's been altered directly on your "master" branch and that same file altered on another branch.

In a normal situation, two engineers might be working on the same file, but because they're not working directly on the "master" branch, even if you have conflicts, you're never going to encounter a "rebase" situation because that only pertains to that scenario where you've made changes to the "master" branch directly.

Provided there are not conflicts...

...and stop me if I'm wrong...

You could checkout your master branch and merge your changes from the other branch that has that file you just changed on master and things would work just fine. But your log would have two different line items because the system is going to document both sets of changes.

When you rebase, you're going to keep your log looking a little cleaner because it's simply going to acknowledge both sets of edits as one comprehensive change.

Is that corrrect?