Stock valuation depends the future expectation of the stock. Even though it is base on the current company financials. Yet it is also depended on the market and stock holder sentimental. A stock split gives the signal from management on their confidence on company future growth. Just up one notch up the PE value can mean $B for those multinational.
Stock activity definitely is affected by the absolute stock price. Do you expect the same trading value of the stock if the price is $50 vs $500 per share? Not everyone has tens of thousands dollars to invest. A lower stock price per share will improve the stock liquidity and ultimately a fairer stock price.
There are so many stock split for the growing companies during the growing period. Please do not tell me the split does not affect their price and PE values. For a slow glowing business may not have such pronounce effect on the stock price.
So please look at the market in more different prospectives. I am you sure will do even better.