not exactly a scholarship hog like ice hockey (18.0 scholarships), soccer (9.9), and wrestling (9.9). A school could very easily add women's beach volleyball (6.0) to make room for men's volleyball under Title IX.
The bigger issue is that men's volleyball at most schools is not a revenue sport. Volleyball conferences with a compact geographic footprint have the advantage that member schools can travel by bus in order to minimize travel expenses. I used to play volleyball with a guy who plays at McKendree, so when they were in town playing Loyola, I went to watch him play. For a school with such a strong recent history history in volleyball, I was surprised that attendance was no more than 200-300 spectators at the match. But that's probably par for the course for schools other than BYU and Hawaii.