Yes, true, but the problem is the massive amount of storage needed. We have adequately solved short term, small amounts of energy storage - it's the mass storage we are struggling with, enough storage, to last longer than a few minutes.
My home, using gas and electric - gas heated, gas cooking, gas water heating, consumes 5 to 7Kwh of electric per day. So for 24hours use, I would need to store 5 to 7Kwh. Which would involve to pretty hefty, and expensive batteries. My home is just one, of millions.
Translate that storage to a concrete block power storage, and a guess of the top of my head - a 100 ton block, raised to the height of a tower cranes, might generate 7Kw on the way down.