Shore Bombardment (?)
If the projectile is still travelling at Mach 5 when it hits the target, doesn't that mean the projectile has a virtually flat trajectory? If-so, it'll be of limited use in shore-bombardment where targets tend to be in-land, behind buildings, forests, hills, etc.
You could drop the rail-gun's muzzle-velocity, but you also reduce the impact's kinetic-energy - In this case isn't "old" HE ammunition better?