Uhh... I disagree. Firstly, I don't see the circle in the following:
- SolutionX puts lots of CO2 into the atmosphere compared to alternatives, and would be extremely uneconomic if we included in the cost/unitSolutionX the cost required to extract that CO2 from the atmosphere again.
- Lots of CO2 in the atmosphere is bad
-> SolutionX is either bad because it's uneconomic, or bad because it leads to lots of CO2 in the atmosphere.
-> We shouldn't use SolutionX until some factors change such that SolutionX is better than alternatives, rather than worse.
That's linear reasoning. If you want to change one of the underlying assumptions, namely that it's expensive to capture CO2 (and convert it back to carbon in this case... where at least the CO2 is coming from a concentrated point which reduces the cost of the process) then it's still linear reasoning with a slightly different result.
For it to become circular there would have to be some step where we said "If we had SolutionX it would be cheap and easy to get CO2 from the atmosphere and turn it back into carbon, but we don't have SolutionX because the methods of getting CO2 from the atmosphere without SolutionX are expensive so SolutionX is dirty".
That, interestingly, was used and is used as an argument against solar cells (e.g. solar cells made on power grids consume energy that may have a large CO2 loading). But it's easily revealed as bullshit through the use of EROEI (Energy returned on energy invested) accounting, and it's easy to show how 'SolutionX' (solar in this case) makes itself clean over time.
How is that the case with this aluminium fuel cell concept? Any advances in energy generation and CO2 capture are probably going to happen independently of aluminium fuel cell production. There's certainly plenty of incentive for both already, the aluminium fuel cells won't create a new market.
In conclusion, you're right that an aluminium based energy storage cycle would be more attractive if we had vast quantities of cheap and clean energy and low emission method of capturing CO2 and turning it into carbon.
But....
1. We have neither of those things
2. So for now an aluminium energy storage cycle is probably unattractive for most applications
3. If we did have both of those things it would totally change the economics of all sorts of other solutions, so you'd need to recalculate those as well before doing any comparisons between aluminium fuel cells and (e.g.) synthetic gasoline.