I can hit my 17 degree hybrid low enough with practice that I don't need a 2 iron, and it goes farther than any 2 iron would. I can also get a lot of maximum yardage out of the 3i, especially off the tee, and the 2i is all but useless off the deck. There's a big difference between the 2 and 3 irons for me off the ground, and any imperfect lie can make it seem nearly unhittable. No sense in worrying about that when the 17 degree hybrid destroys it.
I've been tempted plenty of times to go pick one up, but the dilemma of what to shaft it with and which club to kick are too much, since my 17 degree is staying and my 3 iron is too useful off the deck to spare. The most likely choice would be a 17 degree head with the same length and exact same shaft as my 3 iron with the head weight also set to match the 3. I could consider playing it at 1/2 or 1 inch longer than the 3 but I don't think that would help much.
The only scenarios I could see carrying one like that would be if I were in a tournament and didn't trust my driving; I'd probably leave out either the 3 wood or driver slot.