Oh what sillyness
I think the clue is in the bit about replace all engines & fuel with electric stuff and it's good for 10 mins flight. Instead of 10 hours or so in an airliner. Even a microlight is required to have 1 hour duration at full throttle (although maybe SSDR lets you off this). Petrol (or AVGAS) is not the expensive bit in flying anyway - but it is a very concentrated energy source, much better than electricity. So any percentage of electric in the hybrid is sub-optimal.
But said boffin gets to play with a microlight, Paul Dewhurst gets to fly it for free and Boeing gets to pay, so taxpayers money isn't wasted and everyone is happy.