edited
yes it is gluconic acid a breakdown and byproduct of a sugar yet it still has the 2:1:2 carbon, hydrogen, oxygen property of a carbohydrate C6H12O7 (+1 on the O). more importantly it acts a food source for bacteria just like a standard sugar and lends to the tank as such increasing carbon load while raising magnesium levels.
I was unaware that everything stated here was to be of a complete technical nature, utilizing field of study jargon and increasing the difficulty of understanding to the layperson. My statements were made in "generalities" which, in my experience, allows for greater understanding in a larger population.