> I've been hearing optimistic predictions around hydrogen
Fair point, same here (I was born in 1967), however fossil fuels are so effective and adequate as energy sources, as long as we ignored/neglected their dubious effect on the climate, that there was no real attempt to explore other ways.
> Storage and transport are incredibly expensive and technically difficult
For the "gridpower backup" application there is no transport needed, and storage doesn't have to be compact nor mobile (those are a major challenge for hydrogen in transportation).
> dreadful energy density
This is not a show-stopper for the "gridpower backup" application. For huge volumes or very long-term (not sure this will be necessary) it may be stored in salt caverns ( https://en.wikipedia.org/wiki/Hydrogen_storage#Underground_h... )
> potent green house gas effects
> dangerous
Granted, however we are used to store huge volumes of dangerous materials, some gaseous at ambiant pressure/temp (methane...), even into salt caverns, albeit when we began to do so (in the 1950's) it was quite a challenge.
> Roundtrip efficiency (electricity to H to electricity) is abysmal
Various new ways to obtain H2 from electricity offer impressive yield in realistic conditions (check SOECs), and other advances are promising ( https://liten.cea.fr/cea-tech/liten/english/Pages/Strategic-... ).
> green methane makes a lot more sense
As does ammonia, in some contexts. There is no one-size-fits-all here!