It is basically collaborative homeschooling, a consortium of families, you could say. We're almost done now, but I could have used such an arrangement for subjects such as science where my understanding is very basic. Geography, history, business, and catechism, OTOH, I could teach with my eyes closed and often would not even have to resort to any texts. Different people are good at different things.
No, that would be a co-op.
Hybrid schools, also sometimes called micro-schools, are businesses. They might be non-profit, but they're run like a business.
In a co-op, you typically don't have to pay much as a parent, but you're expected to contribute your time in some fashion, either teaching or assisting with other needs.
A hybrid school, otoh, is taught by certified teachers or individuals who otherwise have teaching credentials. The teachers are 100% in charge of overseeing the courses, but follow a model where the students work independently anywhere from 2-4 days/wk. So, in that respect, it's structured like college-level courses. It's expected that the parents are available to assist the student with assigned work on "at home" days.