I took that number from the 3 quarters concealment baseline requirement to hide.
3/4 = 75% (concealed ) -> 25% (visible)
There is no such concealment requirement for hiding. Maybe you are thinking of another edition?
The way I understand this is as follows…
If I've already been noticed by a creature, then I cannot hide because I am "seen" by the creature. I have to get 100% cover (concealment) before I can attempt to hide (unless there are other factors like Mask of the Wild in effect). This is the only way to change conditions from "seen" to "unseen." If the creature is looking for me while I am hidden, they use their active perception check with modifiers based on lightly or heavily obscured conditions (and possibly other effects). If they succeed, I am "seen" by the creature.
If I haven't yet been noticed by a creature (I am unseen or hidden when I approach) then I can attempt to move towards or past them using stealth. Their active or passive perception is used to determine if they notice me and I become seen. If I succeed on my stealth check, they don't notice me. If I fail, once I am "seen" I cannot hide (until moving behind 100% cover makes me "unseen" again).
My reading of blindsight is that the obscured conditions and other lighting/darkness conditions don't impact these perception checks. But there is still a chance for the PC to use stealth to move undetected within the range of blindsight.
The 3rd edition rules suggest that a creature with blindsight doesn't "usually" have to make a check to notice any creature in range. So even 3rd edition rules suggests that there is some non-zero chance that a PC can still successfully use stealth (although it approaches zero). Up to the DM to determine that chance I suppose. In this edition, I would probably lean towards using the advantage/disadvantage rules when I thought the odds should be modified by the circumstances.