The comparison with 26K
The comparison with 26K Accord is not correct. The PHEV comes fully loaded with Navigation, LWD, dynamic cruise control, ... So that compares to an EX-L Nav which is 30K (but in addition has the dynamic cruise control minus leather).
Now figure a federal rebate of 3750 plus 1500 from CA and difference is less than 5K.
Then compare the EPA ratings of 27/36 mpg compared to 47/46 mpg and it would payoff for some people for sure.