I would not call it a hybrid exactly. They created a for profit company (capped profit actually) that was majority owned and controlled by a non-profit company. This seems to me like an inherently unstable arrangement, since the incentives and motives of the non-profit board were not well aligned with the minority owners of the for profit company. When the value of the for profit company soared, the instability increased and the whole thing collapsed.
One trillion in debt is peanuts. The US debt is so large that the annual interest payments are one trillion. Now that is a serious amount of debt.
He clearly drank the water.
Mathematics is the only science where one never knows what one is talking about nor whether what is said is true. -- Russell