wrong-code.sh

#!/bin/bash

# What is wrong with this code?
# 
#./test.sh -i foo
# output: "has value foo" , as expected
#
#./test.sh -i
# output: nothing , expected "don't have a value"
#
#./test.sh 
# output: nothing , expected "no flag"
while [[ $# -gt 1 ]]
do
key=$1
case $key in
  -i|--ip)
  if [ $2 ] ; then
    echo "has value $2"
    exit 1
  else
    echo "don't have a value"
    exit 1
  fi
  shift
  ;;
  *)
  echo "no flag"
  exit 1
  ;;
esac
shift
done