My gut told me the same thing when I came across this design.
I am working on a code base where there are three dbContexts to one database. 2 out of the 3 dbcontexts are dependent on information from 1 dbcontext because it serves up the administrative data. This design has placed constraints on how you can query your data. I ran into this problem where you cannot join across dbcontexts. Instead what you are required to do is query the two separate dbcontexts then do a join in memory or iterate through both to get the combination of the two as a result set. The problem with that is instead of querying for a specific result set you are now loading all your records into memory and then doing a join against the two result sets in memory. It can really slow things down.
I would ask the question "just because you can, should you?"
See this article for the problem I came across related to this design.
The specified LINQ expression contains references to queries that are associated with different contexts