I recently wrote an article about Hybrid Agile for InfoQ  because the term has been misused too often. Feel free to read the whole article. Here is my conclusion from the article:

After many discussions, people convinced me that “Hybrid-Agile” is what is otherwise called Water-Scrum-Fall and after some deliberation I admit that this makes sense to me. Of course the term Water-Scrum-Fall or similar phrases are often used with contempt or smiled upon, but when you look closer, this is reality in many places and for good reasons.