Why don’t companies do 100:1 splits?

Tesla just announced a 3:1 stock split. Some people are disappointed that it isn't 10:1 like the rumours suggested.

If the reason for a stock split is to make the stock more affordable to retail investors, why not do a 20:1 or even a 100:1 split? Or any split that would bring the stock price down to ~$10 where most people will be able to afford it.