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Microsoft Exchange Hybrid Management
Microsoft Exchange: Microsoft messaging and collaboration software.Hybrid Management: Organizing, handling, directing or controlling hybrid deployments.
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What is the advantage and disadvantage of centralized/decentralized mail flow?
With centralized mail transport, you can route all mail from mailboxes in the Exchange Online organization through the on-premises organization before they're delivered to the Internet. In the same way, incoming Internet messages will be routed to an on-premises organization before being delivered to any Exchange Online recipient.
Why Exchange Hybrid environment required? if we have the option to fully migrate into Exchange Online on on-prem.
There are other methods like cutover or staged for migrating from Exchange on-prem to Exchange Online, see Decide on a migration path in Exchange Online. But as we can see in the linked document, hybrid is the recommended approach in most scenarios. It offers organizations the ability to extend the feature-rich experience and administrative control with your existing on-premises Exchange organization to the cloud. More about the Exchange hybrid deployment features, you can refer to: Exchange Server hybrid deployments.
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