I haven't built a hybrid; however, I have built my road bike and highly modified 3 other hybrids.
That being said, I would say go for it.....with caution. If you're just wanting to go buy a bunch of parts and hope they go together, you will have frustration. Start with a noted or mental blueprint of the bike you want. Know what frame, wheels, tires, component set, handlebars, crankset and pedals, shifters, etc. and especially WHY you want those exact parts.
Could I have purchased a factory built Surly Pacer?...Yes. Was it what I wanted?...No. So I built it. At the time, the Pacers came with all 2x9 Tiagra drivetrain. I wanted, at a minimum, 105 components so I chose to build it myself and go with a 3x9 set up. It took longer to buy each individual piece but it truly is the exact bike I had envisioned. Other work on hybrids have been changing shifters, derailiers, brakesets, etc. For me, it's all relatively low cost, instant satisfaction work that can make a good machine a little better