The development of earth‐abundant electrocatalysts (ECs) operating at high current densities in water splitting electrolyzers is pivotal for the widespread use of the current green hydrogen production plants. Transition metal dichalcogenides (TMDs) have emerged as promising alternatives to the most efficient noble metal ECs, leading to a wealth of research. Some strategies based on material nanostructuring and hybridization, introduction of defects and chemical/physical modifications appeared as universal approaches to provide catalytic properties to TMDs, regardless of the specific material. In this work, we show that even a theoretically poorly catalytic (and poorly studied) TMD, namely zirconium diselenide (ZrSe2), can act as an efficient EC for the hydrogen evolution reaction (HER) when exfoliated in the form of two‐dimensional (2D) few‐layer flakes. We critically show the difficulties of explaining the catalytic mechanisms of the resulting ECs in the presence of complex structural and chemical modifications, which are nevertheless evaluated extensively. By doing so, we also highlight the easiness of transforming 2D TMDs into effective HER‐ECs. To strengthen our message in practical environments, we report ZrSe2‐based acidic (proton exchange membrane [PEM]) and alkaline water electrolyzers operating at 400 mA cm–2 at a voltage of 1.88 and 1.92 V, respectively, thus competing with commercial technologies.