Excellent condition, and works great! It was a bit of a letdown that it has two parts that need to be switched between, instead of all 16mb being usable at once, but still a good (or two good) memory card!
When it comes to the necessity of a good Memory Card for a retro console like the PS2, the Katana cards' value and utility cannot be understated. Effectively consolidating multiple cards in one single unit, you have the best solution for the storage of your game saves for the console right here. I didn't need anything outlandishly large storage-wise, and I still wanted a good MagicGate certified card for authenticity, and I highly recommend at the very least a 16MB card like this one.