It doesn't play quite like you would want it to.
It is pretty soft as your commander, so you will want to have it skirt around the battlefield, avoiding danger. It is pretty good for blowing buildings apart, so it's not always a bad idea to have it wander over and knock down something the enemy wants to capture.
In late game, if your other pieces have been able to trim away enemy AA units, you can then have it waltz in with impunity, and use the area nuke. Risky, but so fun when you move it in and blast a city block with an ion storm.
My information is dated, but I might be of some help.
The issue with razorworms is that they cannot capture intel, and they are limited in the amount you can take, are quite expensive compared to standard infantry, and can only be taken in the specialized airship, or as passengers on heavy tanks, which are limited by your force composition guidelines. Also, for their points cost, they aren't going to bring the most bang for their buck, but they are fun and thematic.
Force organization requires that you take at least one unit of standard infantry. Warriors are your go to for this, as they are cheap. A unit of destroyers for an exotic slot, if you can afford it, make for a great occupying force. They are best for sending in to tie up enemy infantry (if you use them to look for intel, you are wasting their points that would be better spent murdering everything).
In short, if you have the points to squeeze in the airship and some razorworms, you can do that. But you need those warriors, and you wouldn't go wrong with a unit of destroyers, either. Look up how force organization works in that rulebook link the other user posted, to start getting an idea of how you can go about building your lists.