Gain reduction tells you how hard a dynamics processor is working, not whether it sounds good.
Definition
The amount being turned down
A gain reduction meter shows how much a compressor, limiter, gate, or de-esser is reducing level at a given moment. It is a view of processor action rather than final loudness.
Two plugins can show the same reduction and sound different because attack, release, knee, detection mode, and program material all shape the result.
Reading
Fast movement and constant reduction mean different things
Fast flickers often mean the processor is catching transients. Constant reduction means the processor is sitting on the signal most of the time, which can flatten movement if it is not intentional.
Watch whether the meter recovers before the next musical event. If it does not, the compression may be changing groove or causing pumping.
Workflow
Match the meter to level-matched listening
Bypass and level-match the processed signal before deciding. Louder compressed audio can feel better even when the tone or punch has been harmed.
Meter Core helps compare loudness and peak behavior around dynamics changes so gain reduction is judged in context.