I have a couple of hybrids (2 and 3 iron replacements) and have been very happy with them.
The benefits are that they are more versatile (such as knock down shots) better from various types of lies, fly higher and land softer and are easier to work the ball in a controlled manner. The only downside is that I am more accurate from a perfect lie with my long
irons.
I don't see having hybrids as being an admission of weakness. I hated my 5 wood for not being as accurate as an iron but not having the length I want from a wood so I was happy to swap it for a 16 degree hybrid. My 19 degree hybrid is sometimes swapped for my 3 iron when when the conditions are really good but that's fairly rare.