It actually happened to me today on Arch.
I updated the system, including the kernel, everything went smoothly with no errors or warnings, I rebooted, and it said the ZSTD image created by mkinitcpio was corrupt and it failed to boot.
I booted the arch install iso, chrooted into my installation and reinstalled the linux package, rebooted, and it worked again.
I have no explanation, this is on a perfectly working laptop with a high end SSD, no errors in memtest, not overclocked, and I've been using this Arch install for over a year.
The chances of the package being corrupt when I downloaded it and the hash still being correct are astronomically low, the chances of a cosmic ray hitting the RAM at just the right time are probably just as low, the fact that mkinitcpio doesn't verify the images that it creates is shocking, the whole thing would have been avoided on an immutable distro with A/B partitions.