Besides that: pumped storage is good for regulating short-term fluctuations (between day and night), not so sure about storing surplus renewable energy produced in summer to use it during winter, as the article proposes?
They were built 50 years ago. (Slightly before today).
Pumped hydrogen at Walpole is a great functional little project that eases the grid edge brown out problem. ( https://news.ycombinator.com/item?id=45332157 )
Scaling that up to the energy storage potential of the right geological structures of the sizes needed to power cities and run heavy industrial isn't as economically clearcut as you may assume.