The filter in question was removed from a 99 caravan as Run suggested. The air filter box was not closed properly at the bottom which would have allowed water or anything else in. It has water stains at one end of the filter but what surprised me is the way the media appears to have never been properly embedded in the rubber gasket material. The ends of the medial that are pinched/glued also let go. Not just in one place but everywhere.
As Kira said, the whole thing is just wrong.
This came out of a used minivan I just purchased with 170,000 miles. It runs fine and doesn't appear to consume oil. Time will tell.