There’s no doubt that the cost of playing highly competitive youth sports exceeds any reasonable expectation of a financial return — especially in equivalency sports (including baseball), where scholarships are just partial anyway. To me, it’s essentially a luxury good —to be able to spend money to give my kids a chance as a kid to pursue a dream and have the experience of competing and working to be the best they can be at something they enjoy. My wife and I were both mid-major D1 athletes and value the experience, and our kids love sports, so for the kids’ sake, I’d love for them to have the opportunity to take a sport (whichever it ends up being) as far as they can (within reason, consistent with bigger picture life objectives), but I’m under no illusions that investing money in kids’ sports will ever be “worth it” in financial terms. And if they hang it up sometime before college, I just hope they have fond memories and some lasting legacy in terms of lifelong interest in fitness, appreciation of a particular sport, etc.
The challenge for me is I don’t really want a sport to completely dominate our lives (though we’re happy to spend a lot of time at the ballpark, etc.), but there are so many kids that play (whatever sport) so much and are so good… and it’s only going to be increasingly hard to keep competing as you get older if you’re just doing it at more of a casual level.