How is this better than a regular train/subway/tram?
It's also marketed as a fully turn-key system where everything starting from the design and finishing with the vehicles and operations control will be provided by Bögl, which conversely also means that it's a fully proprietary system and you're dependent on Bögl for continuing support or any future expansions, too.
Downsides are that you need to build completely new tracks with limited curvature (and new stations).
from the website: Cruising speed of up to 150 km/h
I'm guessing that the value proposition of this particular system is that it's cut certain performance corners to achieve a far lower cost while still providing more than adequate speed for the intracity use case.