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Run Your PS2 Library from a $50 Memory Card Effortlessly
(www.retronews.com)
Vintage gaming community.
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If it makes you feel any better compatibility is probably pretty mixed. Last I checked the PS2 memcard slot doesn't have enough bandwidth to load all games reliably.
Makes me wonder if it's faster than the USB 1.1 ports on the PS2. I used to load PS2 games from a USB drive but 1.1 speeds meant that some games had stuttering FMVs and some with texture/geometry streaming were more susceptible to pop-in.
I can't imagine it'd be much better via memory card though, considering it was only ever intended for small savegames and fot loading firmware updates (which is also what this memory card or rather FreeMcBoot exploits).