Here's one way to interpret it "geometrically":
Consider the set $S = \\{x \in \Bbb R^n: \|x\|_2 = 1\\}$, which is the "$n$-dimensional hypersphere" of radius $1$. The map $A$ take the sphere $S$ to some "hyper-ellipsoid" $A(S)$.
The condition number is a measurement of how "skinny" the resulting ellipsoid is (specifically, it is the ratio of the lengths of the "major axis" and "minor axis"). The worse-conditioned the matrix, the "skinnier" the ellipsoid.
If $A$ is not invertible (i.e. if its condition number is $\infty$), then the resulting ellipsoid is "flat".