@mikeyw
Using an analogy, think of it this way...
Your computer's hard drive is like a shoebox.
Your digital photos on your computer are like your prints.
Lightroom's Catalog is like an album, that book-like-thing you buy from a shop, and slip your prints into.
So...
Deleting Catalogs is like taking the prints out of the album, then throw away the empty album itself, and you're left with just the prints, which you'll just put back into the shoebox.
The Catalog does not hold the actual photos, the Catalog is nothing more than a database, it shows thumbnails of your photos, and it got links to your actual photos.
If you delete them all, you'll just need to make a fresh new Catalog and import your photos into it. Or you can simply keep one that you prefer to keep, but delete the rest of the others.
If you are worried: Always remember to back up your photos to an external drive before you delete a Catalogue in case of a goof.
Hope this helps?