Hydrogen, once seen as the universal fuel of the future, has experienced changes in perception regarding its role in the energy system. While early visions of a complete hydrogen economy have not materialized, hydrogen still holds promise for achieving sustainability goals. The shift towards decarbonization and reaching net zero emissions has highlighted the importance of hydrogen in addressing carbon-intensive sectors that cannot be fully electrified. Different types of hydrogen, from green to grey, are being considered, with a focus on economic viability and carbon neutrality. Challenges of availability, cost, and policy frameworks are crucial in determining the pace of adoption of hydrogen technologies. Despite uncertainties, experts believe that hydrogen could play vital roles in industrial decarbonization, transportation, energy storage, and aviation decarbonization, once the supply chain and technology developments mature. The debate on the optimal mix of hydrogen colors and policy interventions is ongoing, aiming to create a balanced and resilient hydrogen economy that contributes significantly to a sustainable energy future.