The crane system could work out in theory if you make the crane arms 200m or longer. The covered surface area grows much faster than the length of the crane arm. In practice it's an engineering nightmare.
The piston idea has the benefit that you just use a wire saw and cut out a circle. The primary challenge is building what is basically the largest seal on the planet. The pressure itself is not a problem but the sheer size is.
Compared to hydrogen, reflow batteries, compressed air, heat storage, etc gravity energy storage is extremely questionable unless it's pumped hydro.