If you are talking antique bats or "type" bats (i.e. Mushroom Bats, Double-knob, Ball Balanced, Ring Bats, Decal Bats, Zebra Striped, etc.) then a crack can destroy the appearance and subsequently the value.
If you are talking game-used, then the crack can actually add to the bat's provenance. I personally like cracked G/U Bats, as long as they are still solid and intact. I don't like it if there's a chunk of wood dangling or missing or if it's an obvious or poorly done repair job.
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