I thought the baryonic molecular hydrogen gas clouds (which you propose as a replacement for the cold dark matter) were pretty well accounted for in our galaxy. Yet, as Rocky Kolb puts it, "We find that the galaxy has a much larger mass than the sum of all the stars, dust, and other things we "see." The shortfall is not just a few percentage points, but most of the mass of our galaxy seems to have been left unaccounted." I'm no expert in this field, but I expect the molecular hydrogen is one of those "other things" that is easily detectable. So what's flattening our galaxy's rotation curve?

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