sysobjects, OBJECTPROPERTY and OBJECT_ID are used in Microsoft SQL Server. They are part of the SQL Server DMVs and system functions/procedures used to query and manipulate the metadata.
sys.sysobjects is simply the list of all objects (tables, views, SPs, functions, etc) on the server in the active database. Please note, that sys.sysobjects is deprecated and is only available for backward compatibility. Use sys.objects instead
https://learn.microsoft.com/en-us/sql/relational-databases/system-dynamic-management-views/system-dynamic-management-views?view=sql-server-ver16
It has (as far as I know) no meaning in MySQL, unless somebody specifically created them.
You can also use INFORMATION_SCHEMA which is available in MySQL too (however slightly different in different RDBMS).
MSSQL INFORMATION_SCHEMA: https://learn.microsoft.com/en-us/sql/relational-databases/system-information-schema-views/system-information-schema-views-transact-sql?view=sql-server-ver16
MySQL INFORMATION_SCHEMA: https://dev.mysql.com/doc/refman/8.0/en/information-schema.html
SQL Server has no CREATE TABLE IF NOT EXISTS construct, a variation of the mentioned condition is commonly used to imitate that.
This is a way in SQL Server to check if a table exists in the active database and to perform actions according to the result, like creating the table.
OBJECTPROPERTY simply checks (in this case) if the table is a user created one.
https://learn.microsoft.com/en-us/sql/t-sql/functions/objectproperty-transact-sql?view=sql-server-ver16
I would remove the OBJECTPROPERTY condition in case the part you understand is a CREATE TABLE statement. You don't want to create a table which has a similar name to any system table/view, also you don't want to execute the CREATE TABLE if there is a VIEW with the same name (table creation will fail)