This is the first 3.5" magneto-optical format. It was developed further into 230MB, 540MB, 640MB, 1.3GB and 2.3GB, mostly backwards-compatible if I recall correctly. Some MO formats were "direct-overwrite" (DOW), meaning writing could be accomplished in fewer passes. I never quite understood how they did that.
5.25" magneto-optical drives were produced first and were almost all double-sided (eject the cartridge, flip it over, reinsert it). The 3.5" cartridges couldn't be flipped.
Because the data is stored in frozen magnetic domains that can only be changed by heating to thousands of degrees, the media has potential as archival storage.