Yes, but if we’re seeing huge overproduction times on renewables that might not be a showstopper. Hydrogen is a poor choice for powering things like cars compared to the alternatives but if you have industrial processes which need a flame on the order of 2,000°C it could make sense to have peak capacity wind/solar splitting hydrogen & oxygen for those.
https://www.newscientist.com/article/mg26134760-500-the-gold... ( https://archive.is/4g6dw )
How this enormous non-polluting energy source went unnoticed for decades is mystifying to me. That Toyota and other big auto manufacturers are investing in hydrogen fuel cell and even hydrogen combustion engines means that many people who know what they're doing are betting on this future. The math doesn't really work that well for a "green hydrogen" future, but it may work for a "gold hydrogen" future.