To be fair, there is a logic behind “hone in on” that is at least plausible that relates to the intended meaning, and is perhaps somewhat responsible for it sticking around besides simply the similarity between “home” and “hone”.

As much as it angers me to say it, I do believe it is an eggcorn.

I actually stumbled on this earlier today! I was reaching for home in on and settled on hone in on as it intuitively fit better to me! I remember thinking "Im trying to express reducing something critically which is like refining". Now I very clearly see the home etymology too though!