I'm going to use a lot of layman's terms and very non-sciency ways of explaining things. So forgive my being a novice, but I have explored this weapon quite a bit, and I'll share what I know:
Electric energy is released from a bank of capacitors (rather discharged) with a VERY short period of time. Ideally, that time would be extremely close to zero. This energy is delivered to a set of rails, the current is flowing opposite directions between those two rails. From this, I believe it is the biot-savarte law (possibly a different EM law, it's been a while), that the current generates an electromagnetic field. Between the two rails, because one current is running north and the other south, it creates opposite electromagnetic fields that have a "corkscrew" effect. Simply put, it's like the projectile is getting both pulled and pushed, and with the amount of energy flowing through the rails, the pushing and pulling is enough to propel the object to speeds of 3000 meters per second
Now, imagine a projectile hurtling through the air at those speeds, if it only weighs a couple grams, that is still a tremendous amount of energy.
You claimed that the energy deliverance is 68Mj's. Sounds about right. Imagine a projectile that weighs a few grams with kinetic energy equal to 68Mjs.
To me, that makes sense why this is an effective weapon. A projectile hurtling through the air at those speeds could easily rip a hole through a tank. And from what I've read about the matter, is that as that projectile ripped a hole through that tank, not only does it destroy the tank, but supposedly a pressure is created within the hull that as the projectile leaves, so does everything else inside that wasn't bolted down.
It's a precision weapon. Bombs are area of effect weapons. A railgun could probably be aimed several miles away and hit a target right between the eyes through a foot of concrete. That's just a personal speculation however.