Dan, the lower cost phono would probably be a good idea for folks with Modwright separates in the LS100/KWA100 price bracket, as that would slot a more complete Modwright solution between the SWL9.0 folks (integrated phono) and your DM/reference tube people (PH150 price range customers). Full disclosure, I have no vinyl nor interest in going there, so I'm not a potential customer, just an observer.
The top shelf tube integrated sounds like it fits in the stable of your other ultra-high end tube gear.
On the hybrid integrated, I think the prevalent opinion here so far is probably true, just casually looking around the market. If it had to come in at a higher price point than the KWI200, you would probably be looking at a hard sell, because people with that bankroll, I think, would more likely either be going separates in your current line, or going up to your top end tube gear.
As far as I know, the luxury goods market really still hasn't changed much (and at least in the USA will likely not be changing any time soon) - there is a market at the bottom end of the pool, and at the very top, but very few people shopping in the middle.
If you are looking to do something integrated in a lower price bracket, maybe an update to the KWI200 as is (all solid state), or maybe another new all solid state option that would come in lower than the KWI200? I'm sure the phono is still good to go in the integrated products, but I'm sure the DAC could likely be revisited considering the advances in the tech since first developed?
With somebody like Mivera here on AC (for example) trying to shake up an industry by putting the newest, top-of-the-line class D in a package out the door at or under $2K, it seems like a bit of a stretch to chase after that market with a more upscale product (hence why IcePower put the shut down of the same Mivera firesale selling their new modules at just over cost in DIY kits, as well as the same back-and-forth going in among manufacturers of end-user class D products arguing about cost-justifying "audiophile" pricing on semi-commodity built OEM electronic modules/goods).
Glad to hear from you, and best of luck! I hope my $.02 was worth the read.