Yeah that is true, but another useful application of Hydrogen is that it can store energy, like a battery. Think of it like a hydroelectric facility. You take water which is a low energy state, the bonds are super stable, you add a lot of energy to it, then it becomes Hydrogen, which is a high-energy state, very much less stable that can be used as an energy source whenever we want.
I think this is the really important application of hydrogen, as an alternative for batteries, as most technologies for conventional batteries require a lot of rare minerals and I doubt our planet will be able to sustain a transition in renewable energy, hence a huge increase in load for our electricity grids and demand for batteries, if we only have conventional ones. And on top of all that, you have to factor the fact that the economy will continue growing exponentially(it doubles every 20 years).