In some cases here in the NE it may well be the only way a player can get money---hockey for amny of the schools is a scholarship sport and by allowing a player to play hockey and baseball both coaches are happy because they get the player they want and the parents of the player are happy because they get the financial package they want.
One word of caution though-- it is ultra difficult academically for a two sport player as he truly limits his free time for study--it is also very tough on the body because in college you work harder than you do in HS, by harder I mean all year round in an intense atmosphere, and the body gets no time off--The final aspect is that there is no time to "fine hone" skills in either sport because you are busy preparing for or playing the other