I am using it from ages and faced no issues yet, though its graphics are not good as playstation 3 or playstation 4 but still it is a good thing to buy.
The choices of games in PS2 is much higher than the PS3 or PS4, it also doesnt require any any internet connection which is required in the other two at the initial setup.
So, it is a good pick for the people who like lite games or even some heavy games, but if you are the one who only loves high graphics and need wireless gaming pads then then go for the higher versions.