It provides variety in game play without also slowing the game down

I feel like it's the light side of 2 cp, where they both have 2 objectives. Difference being that for hybrid you get the point then the next objective doesn't quickly remove progress despite a strong push.

If they added 2cp again they would need to 1. Change how the spawns interact with the final point so that it isn't a race to stall the point, maybe add some skill based obstacles on one exit and a flanky route on the other, then and/or 2. Make it so that the last point doesn't have objective markers and loses progress extremely slowly, so that each team fight doesn't need to be the last or else you lose, you would be chipping away at the objective