ITS is just SpaceX's idea how you could transport humans to Mars, without the huge costs that NASA's idea based on SLS would imply, i.e. so that a company like SpaceX may be able to pay for it.
There are huge difficulties (ISRU, radiation,...) and SpaceX knows them probably better than we do, but, if they want to fulfill Musk's goal of sending people to Mars, a system like ITS is the only possibility since they as company only have so much money. If they don't succeed in surmounting these problems, they won't be able to fly to Mars with ITS or anything else.
NASA has already paid 8 billion dollars for SLS and is expected to spend the same amount during the next few years. They probably won't be able to go to Mars unless they get at least 100 billion dollars to develop and build the necessary space craft, i.e. it would be just as, if not more, expensive as the Apollo program. If NASA gets the funding, they can probably do it with their technology, but it is a very big IF as in they need another space race to get the money.
You'll need an awful lot of Dragon launches to ISS (133 million $ each) to earn enough money to fund a NASA style mission from the profits. So SpaceX needs a cheaper option and ITS is exactly that cheaper option. Will it work? We don't know and Musk probably not much more, but SpaceX thinks that ITS is their best option to get people to Mars in the next 10-15 years at a cost of not more than a few billion dollars.