I think there are several other variations on collecting than (1) Huge collection of 3/4 star fragrances, and (2) small collection of gems. That is a choice between big or small collection of things you like. But there are other kinds of collectors.
(1) Brand Collecting - there are people who like to find particular brands and collect everything in the brand. Guerlain draws this kind of collector but so does Creed etc. These people often like to also collect knowledge of the brand, history, read newsletters and books etc. This collecting often starts with a sense of brand loyalty that becomes an obsession. This collector will try to find a brand that has at least several fragrances that they think are really good for them personally, then collect as much of the brand as they can find. Many are not happy until they have they entire collection, even old discontinued items and rare limited pieces - they want it all! But they remain loyal to that brand and are slow to jump to a new brand. I think Hednic is kind of like that if I understand his collecting strategy.
(2) Collecting Best of each type - For a long time I tried to have my favorite of a type of fragrance. Best vetiver, best leather, best oud, best rose, best gourmand, best evening fragr, best work scent, best for gym, best eau de cologne, best orange citrus, best incense. etc. etc. This goes on until you realize that there are more than one best in a series and then it becomes the best three rose, incense, etc. or the best 6 of a category. Some collectors will not even buy a fragrance unless they can get at least three from a brand - a best three strategy from a brand which is kind of like #1 and #2 above combined. This collector could be considered a collector of types of smells rather than bottles of fragrances. Some of these collectors get into collecting decants and smaller quantities to enable them to try more varieties and uses of ingredients that create new kinds of scents.
(3) Wardrobe of Possibilities . This approach is like building a "toolbox" that has everything you might conceivably need as possibilities for use in creating yourself. Some collectors of fragrance look at building the wardrobe as building a palette of colors or possibilities that they have to chose from. These collectors focus on what they enjoy wearing in different settings, activities, weather, times of year, attitudes and variations that the personality finds itself involved in, etc. This is a collection of possible choices from which to create an interesting day. Kind of like building a wardrobe of clothing possibilities from which you might style yourself for the future. Have you ever known a handyman or mechanic that had to have every kind of possible tool in his shop? Never know when you might need it. Well this is the same obsession collecting only with fragrance/smells/scent.
(4) A Signature Fragrance - matching ME. This collector only wants what fits their persona perfectly. This starts with one scent then expands to different situations, usually evening, outdoors, work, romance, etc. This kind of collector will end up with no more than a 4 - 10 fragrances which they will think is excessive because too many will dilute their sense of who they are in fragrance. My SO is like this. She loves fragrance, but is uncomfortable with more than about 6 fragrances because she wants her scent to always be a recognizable signature of who she is.
(5) Collection of Gems. This collector starts with just a few and only collects those gems that are worthy of his collection. Ultimately the small collection becomes a large collection and he ends up selling off the less gemlike ones on base notes marketplace to make room for more gems to be added. The collection is only limited to storage space to hold it and the ability to find new "gems".