It is essentially unused and in pristine condition with the tags still on because it has stayed in its leather-protecting cover.
It has had its wrap-around straps removed to be far more practical (see links for comparison). The triangular buttons on the face were also removed. The price has been adjusted for this. It remains a highly functional and gorgeous leather bag.
See comparable listings here:
https://poshmark.com/listing/NWT-Alexander-Wang-Neo-Hiking-Bag-5f4fb2a5e107bbb4c735ba24
https://www.grailed.com/listings/15866682-alexander-wang-new-2k-neo-hiking-leather-backpack