As long as cost are not a concern, and your number one priority is lbs of thrust versus mass of fuel, it is a good choice.
But if your vehicle is not subsidized by tax payers, and storage volume and cryogenics are a concern, then there are better choices.
You think that storage volume is a concern for hydrogen fuel cells? I saw nothing in the article where Toyota is asking for any Federal grants. It clearly states they are heading away from primary battery storage for the far more efficient, and from all accounts, reliability of fuel cells to perform in all environments and not just in lab style scenarios.
My point about the space uses was just to point out this is nothing new at all. With the current technology available, they are way ahead of the development curve and I am sure they are already working on any of the cryogenic, or any other issues in their R&D departments, to provide this means as a safe alternative.