Share splits do help further run ups in the markets where share valuation gets too expensive for a block trade of 100 shares.
Where a Company has been buying back shares, or holds significant shares in treasury, a share split also helps fund Executive Compensation by allowing the Company to distribute shares as bonuses to upper management while still having ample shares on hand.
Many Companies keep their key employees with "Golden Handcuffs", meaning share options that vest after 3 years. So if you want those shares, you have to stick around year to year to get the shares promised years earlier.
Needless to say, if there are alot of shares vesting, you have to have the shares on hand to deliver.
That is another example of how the Retail Investors get the shaft over and over again. The Board, CEO, CFO, EVPs, VPs, and Managers get piles of promises for free, and further dilute the share pool in the marketplace.
Drewski
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