I think you're correct as far as you go, but hydrogen has other uses, as an input to chemicals such as Ammonia that are currently produced and/or used in ways that release CO2.

Just Ammonia for fertilizer alone generates 2% of annual CO2 emmisions, so that alone is a market worth targetting in both environmental and business sense. As soon as the inevitable policy response kicks in there will be a massive market for green ammonia (and therefore hydrogen).

Ammonia has a decent shot at being a shipping or aviation fuel too, but many of its alternatives need the same input of green hydrogen anyway so can share costs and scale with Ammonia production.

As for intermittent renewables, we're approaching the point where we shift from mostly underproduced and only occasionally overprovisioned to them being near permanently overprovisioned and needing to find uses for that electricity that can be rarely halted to help the grid a few times a year.

Hydrogen production fits the cost profile for long-term/seasonal storage that no lithium battery can hit, even if they drop in price even more than currebtly predicted.