Panamera hybridation makes perfect sense if done right (a la 918 and not a la e-hybrid). Shorter wheelbase, slightly lighter batteries, more power output both from batteries and engine and maybe longer e-range for daily commutes. THAT would be miles ahead of any competition in its segment.
Nowadays the Turbo S has more power but also weights way more than the regular Turbo. I suppose the differenciation between these two models is not big enough to justify the price gap despite all the tax benefits, parking spots and so on.