They tend to leave out steps in the process when it's convenient for the narrative they're pushing like harvesting, processing, distribution, etc. I'm sure the car could run on fermented algae fuel, but the reality is it'd probably cost an arm and a leg to produce at scale, so, it'll run on standard oil gas.
F1 isn't the first, I think NASCAR has been using some E85-like ethanol blend for a decade or so. Due to the cooling benefits, it's a superior fuel to use for racing where you don't need to give a shit about long term durability.
It's all pointless feels good stuff anyway. It's bailing out a sinking ship with a thimble when China's belching out more carbon than pretty much the rest of the world combined and still appears to be increasing exponentially. I'm sure all these supposedly green tech bro companies are really going to be concerned about the carbon emissions of all the AI data centers they're trying to put up too.