The AIG reverse split -- Isn't it a scam?

I am of the opinion that an AIG reverse split would severely hurt investors, because the chance for upward growth become greatly limited, i.e. if I have 1,000 shares each penny gets me ten dollars. If it is reverse split twenty to one, I get 50 shares, and though the price goes up to thirty dollars, it would be almost impossible to get up to the $600 level to gain the same profit that, e.g. if the stock went from $1.46 to twenty dollars -- much more realistic, considering that it was seventy bucks two years ago. Those who bought stocks at good amounts (in the thousands) at low stock prices and have watched AIG come back a bit from the below dollar range it recently was will see their profit potential become negligible. I suggest all stock holders vote down the split, don't you agree?