Right, where scale works. This is why you have to get really hyper-focused on irreducible marginal cost.
As an example: Bio-ethanol, seed oil diesel and algae diesel won't beat electric unless photosynthesis efficiency can be improved a lot. 1% photosynthesis is miserable, if you're using the sun then you're 1/20th the efficiency of PV, if you're using lights then you're throwing away 99% of your energy. And while there is genetic engineering work on improving photosynth, it's highly doubtful they'll ever get anywhere meaningful because air CO2 scavenging is a hell-problem.
