This is another Aluminium Air battery, same concept different metal. None of them considers splitting water is energy intensive and inefficient. Another hydrogen fool cell category fuel imo.
What this does, then, is provide you an alternative storage medium that is relatively inert until you want to use it. And it provides you a simple self-sustatining scalable chemical reaction that can be started by supplying some initial heat and then goes on to produce even more heat steadily and continuously until you run out of fuel.