We had tons of "clues" that the LCD is articulated, too
But let's see the facts:
- Pentax talked a lot about the improved viewfinder, not even once hinting it would be hybrid. And we even have the specs list
- what we're seeing appear to be a standard pentaprism SLR viewfinder with an information overlay system. It seems said overlay include "AF Points, Grid Display, Electronic Level, AF Frame, Spot Metering Frame, Crop, Smart Function, Operation Control Lock" (according to said specs list).
- the mirror lock-up function appeared ages ago, in film SLRs - thus it is not tied in any way with the concept of a hybrid viewfinder.
My opinion on this:
- Pentax made the best optical viewfinder on an APS-C camera; it's highly unlikely they'd have managed to do that (increasing the magnification, overall quality and brightness) while also incorporating an EVF.
- yes, the M.UP indicator in the viewfinder likely warns you that the camera won't take a picture when you press the shutter. Particularly in a sports/action camera, you'd want to avoid such surprises.
For me, a hybrid viewfinder is valuable for video, but not quite useful for stills; I'm concerned about compromising the viewfinder quality by combining a SLR viewfinder and an electronic one. Sony did something similar (actually incorporating an image sensor rather than a display), and the result was awful even by "cheap pentamirror viewfinder" standards.
This is not the same as Fujifilm's hybrid viewfinder.
Extending the information display is nice, perhaps they can get even more optional info in there, perhaps they can get colors - but please, be wary of visibility. The K-1's AF points markers aren't easy to see.