If panels get cheap enough, overprovisioning to account for even a large round-trip loss may become a thing. Then, the cost of the storage and conversion equipment dominates. So, it seems like even after you have other reasons to make hydrogen anyway, a better storage medium seems worth using, too.
Nobody is quoting round-trip efficiency for the iron-air battery, so I would guess that is not very close to as good as lithium tech. Their descriptions of battery installations say they include a fraction of lithium cells; probably the lithium cells are used to smooth off the peaks, falling back to iron when the lithium cells get low. We have lots of other reasons to overprovision panels.
It is possible that, as hydrogen gets more integrated into the energy system, starting with steel production and later aviation, its use for primary storage will increase. That probably depends on developing cheap, volume production of aerogels for LH2 tankage. Cost will always be important.