Splits don't change the value of the stock. If there's a 2:1 split, the market cap stays the same so the share price halves. It's just a way lower the price of individual shares.
Trading under $10 is discouraged by the exchanges. Trading above $100 is discouraged because 100x $100 is $10,000, which is a lot of money. Targetting about $25 was the norm.
Single lot sales and now fractional sales makes a lot of that less necessary, and so more companies have avoided doing it.
But there used to be 'low priced stock funds' which would buy stocks around $10 and sell them around $25 and do pretty well.