Yeah; come to think of it, any reasonable project of bootstrapping a viable Mars colony with present-era tech would have to involve tunnelling, as it offers many benefits at the cost of only shipping construction equipment and delivering electricity. I could totally believe Elon has Mars in mind with this project.
Just learning how to build tunnels is interesting from that respect.
The reason that isn't stated is because Musk likes to create projects around a "purpose" and business plan for them to succeed (even if they are retro-fitted - that is, he decided first that it would be important to tunnel, and then arrived at the "why tunnels on earth").
edit: not a new thought. some other commenters already pointed this out. I read those after posting this.