Technically there is moving parts. A diaphragm that operates a vacuum valve. About all that can go wrong is the diaphragm starts leaking and then, of course, it doesn't work and neither does the egr valve.
There's a manifold vacuum source to the amplifier and the egr gets it's signal from a ported vacuum source on the carb, above the throttle plates. That ported vacuum signal is too weak to operate a valve but will operated the diaphragm in the amplifier so,,,,,,,,,,it goes to the amplifier which opens the outlet port to the EGR valve and sends manifold vacuum to the valve. There's also a vacuum solenoid valve in the system as well, next to the amplifier.
Like BudW said, if you don't have to have an emissions test and the engine doesn't spark knock on light acceleration it won't hurt a thing if it doesn't work.