Its just not aiming for the right markets. Its perfect for replacing heavy fuel user where fueling up is already restricted to limited locations like diesel generator trains, massive 18 wheelers and boats, but not for individual car market.
Hydrogen ISP is still king by a significant margin, but ISP isn't the whole story -- hydrogen comes with additional tank weight (due to lower density) and storage issues (pesky molecular size...). So that trade-off for ISP only really makes sense for an upper stage like Centaur. I'm not sure it makes sense for New Shepherd even...
Production, consumption, electrolyzer efficiency limits and capital cost, storage problems, fueling problems, transportation problems, pretty much every aspect of this stuff makes it terrible for use as a vehicle fuel. All green hydrogen efforts should be focused on fertilizer production before anything else.
Honestly, this is probably the best utility out of FCEB I've seen so far. It was always a dead-end for cars, but for short-term portable uses, this is great. There's actually a HUGE industry around portable butane that could be replaced with something like this.
Recreational, Construction, Culinary, Aviation...imagine replacing all of that with this as a solution, and you've got something. We'd obviously need to see some specs to see if it's possible. It's not going to make as much money as millions of cars on the road, but perhaps useful enough it will get uptake.