Like most other Atari boxarts it's not representative of actual gameplay at all, but it's definitely the most badass racing game boxart I've ever seen.
Looked awesome on the shelf. As a kid what more could you want than a guy (well, until we knew better) in a cool futuristic space suit shooting lasers at a scary dragon type thing, whilst something even bigger lurked behind them. Thankfully the game also lived up to the box art.