That's because you can only use them as grid storage when they're sitting plugged in and you need infrastructure to make feeding all that power into the grid possible.
If you're going to all that effort for storage that's only functioning part of the time, it probably makes more sense to buy dedicated batteries which you can put wherever is convenient for the grid and will be available 100% of the time.
Your thinking the wrong way around. The batteries are already there, sitting around all throughout the day night and weekend. Its not like these are bought primarily to be energy storage, its just a side benefit. There is almost no extra effort. When they are not in use they already sit in a storage hall, plugged in to the wall. There is nothing special required to make this work.
They will only be used for a morning and an afternoon trip so they will still have 18h or so of uptime. Not using something thats otherwise unused would be a waste.
School buses are primarily used twice per day, five days per week, and otherwise sit unused. The morning operation time (6-8am) is off-peak so it won't have much impact on the grid to lose some storage at that time, though the afternoon run (2-4pm) would be right in the middle of peak load time, so that might be an issue:
Probably the most sensible thing to do is have the bus batteries offset the school's own daytime power demand (when all the lights and climate control are operating) and then recharge during off-peak hours.
When you have the buses as batteries, they can not be used as buses. Most places use buses as a general public transport network and not just for school children. Hence they run through the entire day and need to be recharged over night. Students then just use the general public transport to go to school.
This is not a genius idea, but a waste of resources.
It's never really occurred to me that the US is quite unusual in having fleets of buses dedicated to getting kids to and from school. I wonder why that is?
Because yeah, here in the UK kids either go under their own steam, are dropped off by their parents, or take regular public transport (or a regular bus that's chartered for the school run twice a day).
Would it help that much on weekdays? It looks like peak loads are right about when the buses would be busy driving. But it would still be usefull for weekends I'd think.
Edit: looks like it changes quite a bit seasonally.
They can recharge mid-day when generation is highest, which helps balance supply, and in theory they could still help in the afternoon after they finish their routes say 5/6pm
Yeah you'd definitely charge mid day, but you don't need reverse charging for that. I'd think you'd size the battery just large enough for your route. So there wouldn't be much energy left over to put into the grid. Maybe when the bus is new or when they don't need to run the AC or heading you'd be able to put more energy back into the grid?