By no means am I going to say that what I write is true for the majority of 4sq users, but I and most of my friends use it to mostly keep track of visits abroad and occasionally search for a restaurant/bar/new place to check out.
So splitting these features into two apps is not something I'd enjoy too much.
[1]: http://www.theverge.com/2014/5/1/5666062/foursquare-swarm-ne...