After 2…cxd4 3.c3 dxc3 4.Nxc3 White has one pawn fewer and every piece coming to a natural square: bishop to c4 pointing at f7, rooks to c1 and d1 on two open files, and a knight coming to d5 or b5 the moment Black relaxes. Black's extra pawn is on the queenside and takes a long time to mean anything.
The gambit is not sound the way a Ruy López is sound, and it does not have to be. It costs a pawn and produces positions where the player who understands them wins, and at club level that player is usually the one who chose the opening.