It's already being used on the ISS to keep the air fresh. It'll also be a key component on Mars. There you have basically unlimited CO2 and unlimited hydrogen which yields unlimited methane and unlimited water. Carry out electrolysis on some of the water and you get hydrogen + oxygen. The hydrogen can be fed back into the original cycle, and so you end up left with methane + oxygen which is also known as rocket fuel, uncoincidentally the exact sort SpaceX's Starship is using.
Back on Earth you could use this reaction to create practically endless carbon neutral fuel so long as the CO2 was sourced from either the air or a regrown natural capture source like trees or what not. Rockets using this fuel would even have a negative carbon footprint since some of that fuel will get burnt outside the atmosphere. It all seriously feels like a video game where there's just this perfect, but just utterly contrived, rule allowing you to thrive on the next level of difficulty.
(1) It presumably requires concentrated CO2. It's not trivial to concentrate CO2 from the air without the appropriate technology.
(2) Pure hydrogen can risk an explosion.
(3) What does one do with the methane? Also, it too can risk a fire.
For these reasons, this is not a reaction that one would seek to do at home.
<rant> There's no grand technologies required for any of these things. The only reason it's not done at scale is the same reason we can't have nice things in general. Governments are far more interested in war and cock measuring contests than actually solving problems. We spent literally trillions of dollars on Iraq and Afghanistan, and the latest wars will probably dwarf that. Just imagine all the crazy sci-fi scale of things we could have done with all that money. Alas, humanity seems to be running on loop, except now we have nukes, paired alongside what are likely some of the most idiotic 'leaders' in centuries. Want to know the answer to the Fermi Paradox? </rant>