Earlier quoted context omitted.
The capabilities of quantum computing, in theory, are pretty well known. There's basically a few extra operations which can be done efficiently on it and so that can be built into the threat model, even if no-one's built a quantum computer yet. (Of course, basically all encryption, especially asymmetric encryption, is predicated on there not being some as-yet-undiscovered exploitable structure to the mathematics on w…
Supersingular Isogeny Key Exchange is one that was invented to be quantum-safe but turned out to be unsafe at any speed, so hybrid encryption is still a good idea. You use both a quantum-safe algorithm and a classical algorithm, encrypting your data twice and remaining secure if either one is broken.
The issue instead is for signatures. We don’t have a fine hybrid signature. Concretely, our current hybrid signatures achieve security in a weaker model (they do not achieve BUFF security) than what our PQ signatures achieve.
So the question is if we want explicitly weaker security to provide assurance against possible security issues in the PQ hardness assumption. Or we could delay standardization longer while people search for better ways of making hybrid signatures. Both seem stupid, especially as obtaining cryptographically relevant quantum computers recently seems less like “if” than “when”. Note that when cryptographically relevant quantum computers appear, we will NEED to have a PQ secure component. The main “pro hybrid” cryptographer (Bernstein) has himself predicted classical (public key) cryptography will likely be broken by 2032. Things must transition now.