No, they were talking about basic strategy,
I think billb's response summarize the 'common sense' argument perfectly:
"Nothing worse than getting 2 8's against dealers 10 when you have a high count and max bet out. You know that you will be getting 2 10's or worse 2 more 8's. For me, in those high counts, with no option of surrender, I'll stand. Better to only have one bad hand than lose several big bets. But that's just me, the computers say split."
billb is talking about what's correct on high counts, not necessarily high bets.
Worse: What if you have a big bet out, split 8's, then you get another 8, and then another? This has happened to me. Of course I lost all 4 bets against a dealers 20. When the big money is on the line, do you really want to take this chance (despite the math)?
Were you counting? What was the count? If you weren't counting, you did the right thing. And, yes you want to take this chance. The bigger the bet, the bigger the difference between standing and splitting. Suppose you bet $1000. You expect to lose $535 by hitting, $537 by standing, and $500 by surrendering, but only $475 by splitting (6 deck, S17, DAS). Which of the four do you choose?
Yes, sometimes you will lose 4 bets. And sometimes, you will win 4 bets. Sometimes the split bets are doubled. All this is taken into consideration.
Finally, if you can't afford losing 4 bets, maybe you shouldn't be playing.
Blackjack, like most gambling, is a game of mathematics. Don't make it a game of hunches.
P.S.: There are times where the increase in expected value is not worth the increase in variance. This concept is known as risk aversion. This is not one of those cases.