The presence of the coaster brake means that the bike is fully compliant with CPSC requirements.
The rear caliper brake began being added as a marketing gesture in the early '80s at the request of bike dealers, who reported that smaller kids, seeing hand brakes on the BMX bikes of older kids, wanted to have hand brakes, too.
The front caliper brake was omitted to avoid the possibility that a kid who didn't understand how to work hand brakes properly would lock up the front brake and go over the handlebars.