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It was cool if you had multiple people to use it with, because you could do a parade of all of the Pokemon in the Ranch and see their metadata, like number of ribbons and OTs and the like. It also was a nice companion for completing the dex because it would actually tell you where you could find wild Pokemon. In fact, I think it even specified things such as the GBA insertion method and swarm Pokemon. I played it a lot as a kid, but that's because as a kid you get easily amused and I liked the idea that I could just watch my Pokemon interact with each other in real time. It really did make it seem a lot more lively at the very least and while I did like it, I don't think I would like a modern version such as this purely because it's not that cool to see this as an adult.
Something that was cool was the fact that if you had Wii friends with the game, WiiConnect24 would allow you to have their Miis invite you to their Ranch so you could see their collection.