True. However that is outweighed a hundred times over by the fact that the launch payload doesn't have to carry its own fuel. A traditional rocket spends from 90% to 99% of its fuel lifting other fuel, rather than payload. In this design, 100% of the energy imparted lifts payload. And the energy in this case is from cheap electricity, rather than much-more expensive rocket fuels.Not only that, but you're fighting air resistance at its densest at your highest velocity.
As for the G-force argument, the dynamic forces imparted are a factor of the launch platform diameter. The larger your system, the lower the force required.