Yeah the 1 male split to 2 female makes more sense to me. If you chain more than 2 cabs you just plug the next splitter into the previous to run to the next.I guess your choices with splitter cable would then be either 1 x male to 2 x male in appropriate length or a short 1 x male to 2 x female and add extra cables to suit.
Running 4 cabs off 1 amp Speakon you'd need 3 splitters & 4 cables.