The campaign/product status setting allow you to do a few things…
From a CAMPAIGN level, you can set your campaign to “Active”, which means all products and funnels will be available for sale.
You can set it to “Test Mode” which means all of your products and funnels will bypass the payment gateway and is designed for initial testing before going live to ensure everything is working as intended.
You can set it to “Disabled” which will disable all product and funnels from allowing anyone to purchase those products.
If you do not want to mass update the status at a campaign level, you can do so from the PRODUCT level. From here there are only two options, Live or Disabled. Keep in mind that if you Disable the CAMPAIGN but Enable a PRODUCT, the campaign setting will override your product status and not allow anyone to purchase that product.