I was tech lead on that subsystem for a little while in 2010. A lot of smart people thought about the hybrid approach, either by using the search index to drive the timeline or building a custom ring-buffer-based index of all tweets. Ultimately two systems are harder to maintain than one, custom indices are hard, and the low-complexity approach dominated a higher-performance approach.
Also, contrary to popular opinion, we didn't go down when Justin Bieber tweeted, but we did have elevated error rates when large quantities of Justin Bieber followings put pressure on the MySQL row lock of his following count. In retrospect, lock striping would have helped, but the migration would have been horrific.