That doesn't sound hybrid to me. (Admittedly, I don't know the full cost of publishing a physical book.) My gut says the author is paying the full cost of production. The line about how their editors can work with you implies edits are not necessarily covered by what you pay to publish.
The prices seem high to me--the first book I looked at is $23.99 for a paperback and its ranking in sales at Amazon in the US is well over three million, over 500,000 in Canada, meaning very few copies have sold in the two years since it came out.
The second book I looked at is $24.99 and only came out yesterday, so its sales are zero. Number three costs $19.99 and is on Amazon, no sales ranking in Canada. In the US, it's past nine million, meaning almost no copies have sold in the two years since it came out.
The second book has a pretty high star rating, but several of those five-star ratings are from people who only appear to review books from this publisher and give them all five stars. I fear this is a part of a promotion effort: you give my book a great rating and I'll do the same for you--completely unethical and easy enough to see happening.
I went back to look at the ratings from the first book, too. Same thing with reviewers hitting all the AOS books. The other ratings are from people who have not reviewed any other books--friends and family, I imagine.
If it were me, I would not consider this press. You can probably do just as well self-publishing, using that money to buy edits and cover art.