In Drupal 7 we often use multiple types to describe pieces of content, for example a node is a sioc:Post and a foaf:Document, a comment a sioc:Post and a sioct:Comment. This is useful when you want to be generic and specific at the same time, or when a consumer only recognizes one vocabulary and not the other. For example imagine that you want to combine Facebook's Open Graph protocol and schema.org vocabularies onto the same page elements so that your blog posts are recognized by Facebook, Google and Bing. Another use case is a news website using rNews, a proposed standard developed by the IPTC for annotating news-specific metadata. There is great incentive for such news website to also be indexed by the major search engines, which will only recognize the schema.org vocabularies.
Update: alex b posted another interesting use case on the schemaorg-discussion mailing list:
I can imagine that some businesses may fit into more than one Schema
tag. Will there be a problem with applying more than one? For
example I might want to apply the following tags to a car dealer:
AutoDealer,
AutoRepair, AutoPartsStore if they perform all of these functions of
course. Is this going to fly or is this something we're not
supposed to do?
From the use cases above, it is clear that the ability to combine vocabularies is essential for allowing a decentralized extensibility on the Web.