If I had to guess why others don't field teams, I would point to Title IX as well. Secondly, you suggest removing a program like rowing, which has very low overhead for the school. The big one (trumping things like equipment, which is a valid point in terms of expenses) is somewhere to play. Most schools would have to build an arena, while at the very least, most schools would have to put in expensive renovations of their basketball facility if the floor is big enough to hold hockey games over.
That said, I too wish there were more D1 hockey programs. I'm just not thinking you'll see many starting, and certainly not at bigger schools, in the near future.

