I actually think this would be a good idea by Alpine.
In 2030 they wont be selling any road cars with a pure ICE. Why continue to waste millions on dying technology.
IIRC Renault was aiming for 90% of their cars being EV by 2030. EU is still aiming at 2035 as the end of new fossil car sales, but that goal is already eroding with the allowance of ICE running on "co2-neutral" fuels being allowed beyond that.
In the recent EU-parlaiment elections, we saw some serious backpedalling on these goals from some conservative parties and parties further to the right had a decent election, gaining some places.
As a European car manufacturer, I would not bet the farm on the fickleness of European politics, but keep my options open. As some are already doing, like VW.
So a hybrid running on a "co2 neutral" fuel would not be the worst technology to invest some money in for the next 10 years.
And just for the record, I would like the future of the car to be EVs, but it is not going to happen unless there is a a long lasting political iron will behind it. And of that I'm not really convinced.
But Renaults F1 project is currently a failure and they should either fix it or sell it.