The overall efficiency of using electricity to create H2, ship it somewhere, then convert it back into electricity with a fuel cell will never make sense for passenger vehicles. I'm sure we'll find new catalysts and methods to improve electrolysis, but there is a hard upper limit on how good it can get. We're not going to cut the energy requirements in half. Battery prices have cratered over the last decade and continue to drop. The overall efficiency of a BEV is something around 85-90%, whereas FCEV is around 40%. That's a lot of wasted energy for H2 and that will have a big impact on TCO (plus fuel cells remain very expensive after decades of work).
I do see H2 fuel cells having a part to play in industries like shipping, forestry, and agriculture where grid connections are either tricky or impossible, but fuel cell passenger vehicles won't ever make sense financially.