I'm a little scared to consider the hybrid approach since I think it's highly likely Apple will only let mac store code execute on the ARM side of the house. They can tout the security benefit (which is real), but they get to collect their 30%. If apple ever gets to a point where they ditch x86 macOS is no longer a general purpose OS and that's pretty much its whole appeal.
I'm not personally that interested in a hybrid mac as getting rid of the power draw of an intel cpu and all the weight and technical baggage it comes is the real draw of an arm mac for me.
What I really want is to hand apple a little over $1000 and walk away with a laptop form factor with nothing but one of their fantastic A series SoCs inside and running full macOS where I make all the decisions. The gpu being so much better than the anemic intel integrated stuff in my current air is a big part of the attraction of the A series chip running macOS.
I don't think the air branding will go away. Apple spoke so much during this last event about macbook air being people's favourite mac I can't see them giving up on such positive branding. It's far and away the best selling mac and has been for close to a decade.