Sure, but you cant store that electricity as electricity. IMO this is most interesting as a energy storage technology, so the comparison isnt what that gasoline would do in an ICE car compared to an EV, its to what it would cost compared to battery storage (or compressed air or whatever other technology) to store a few weeks of output on the order of months. The big advantage I see here is that unlike those other technologies capacity is dirt cheap to build, its just a metal tank. So whenever a renewable plant would curtail its output it can instead redirect to creating gasoline to burn when the renewables arent producing much electricity.