The Midwife Toad does something similar. The female releases a string of eggs which the male fertilizes and wraps round his legs, carrying them about until they are ready to hatch.
Evolution does what works, there is no set plan or “right” way of doing something. In the case of seahorses and some amphibians, evolving a way of protecting eggs rather than just dumping them in the water, hoping that some survive, has led to their enhanced survival.
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