When we see flags summary page, retracted flags can be seen as self-removed status. Which I was seeing the first time, so I thought SO/SE had added something new. I hovered over it and it displays the time. When I clicked on a link it was redirected to that retracted flagged question and there was retracted flag 1 on the right side (where flag stats are shown).
Flag status as self-removed creates the confusion whether a post was removed itself or the flagger has retracted the flag.
Can we have a single status or name as retracted?