As far as mass drivers go, it does. While DPS itself might not be stellar if you go by the numbers, it makes up for it by delivering it in a concentrated burst. VK-03N will miss most of the shots you fire from it (as will any such weapon), since it's a cycle-firing high-ROF machinegun. You wouldn't want to fire the Type 74 at max ROF anyway, meaning that practical damage dealt is quite impressive, especially considering the range. That said, it does require good aim.
EDIT: Ninja'ed. Yes, a lot of the impression comes from the fact Type 74 can suppress shields a lot better than other weapons. A lot of things simply don't have the hull strength to survive a single salvo, which, IMO, trumps "table" DPS here. Overall, neither of the available ships is really suited for cycling weapons, you end up with a wide alternating pattern that makes it harder to hit things.