Does Hail to the foam mean beer?

Yes, "hail to the foam" is a phrase that is often used to refer to beer. The foam on top of a glass of beer is often seen as a sign of a good beer, and the phrase "hail to the foam" is a way of expressing appreciation for this. The phrase can also be used in a more general sense to refer to the enjoyment of beer, and it is sometimes used as a toast to beer drinkers.