Mojo is right. Although there is a phenomenon known as "hybrid vigor", it is limited in scope and doesn't last past the first generation. Succeeding generations are genetically unstable, subject to deformities, and generally have a shorter and less healthy life than their purebred counterparts.
The biggest argument against hybridization is that, over time, the progeny get released back into the hobby under false names, and these low-quality fish will eventually wind up polluting the bloodlines of the purebred species they most resemble. People who say "oh, I'm just going to keep them for myself" almost never do...either they wind up with too many fry and take some to an LFS, or they give some to friends; and once they leave the original chain of ownership these fish are almost never labeled correctly and that's where the real damage is done. If you see a cichlid that is not that old (here's a hint: most large cichlids will live 15+ years with proper care) and yet is showing signs of age (a hunched back, slightly "off" dimensions, etc.), odds are that it is an unidentified hybrid. I know I've seen examples of that here on this website, from people who post pictures of their fish while having no idea that the fish is almost certainly a second or third generation hybrid.
Flowerhorns are another perfect example of this. "High-quality" flowerhorns are produced by re-crossing the source species in Asia, not by breeding flowerhorn to flowerhorn here in the U.S., because the latter produces batches of fry with a wide range of characteristics. Unfortunately, some of these wind up looking just enough like Trimacs that they are then sold as such, and as a result it's becoming increasingly difficult to find healthy purebred Trimacs.
There are also species (such as Paretroplus menarambo) that are actually extinct in the wild because of environmental destruction. Should those habitats ever be restored, the only hope of re-settling the fish in the wild would be to use domestic stock. If those stocks were ruined with happy-go-lucky hybridization, the opportunity to save the species would be lost.
One would hope that the arguments against hybridization were clear enough that people would avoid it; after all, there are a huge number of species available that will provide a lot of challenges and rewards breeding true (just look at emg's ram spawning thread for a perfect example of this). Sadly, that does not seem to be the case, which is why more experienced hobbyists continue to try to discourage the practice of hybridization whenever they can.