I think I've been pretty clear that anything resembling a WWCG type collapse would qualify as a collapse in my view. Including features such as a massive reduction of membership (say 50% in less than a decade, which is the sort of pace of WWCG decline), folding legal entities to protect assets, financial intervention/claims from outside stakeholders, disruption to organisational integrity, change of name, major splits, defections, renunciation of history, renunciation of core beliefs, and so on. I don't think they are far away from this.
The most possitive spin you could put on their current situation is that the GB and management have sat down and had long hard think about strategy. They decided, in the words of the old saying: "in order for things to remain the same, everything must change". So they've implemented a plan to avoid financial and organisational ruin. Well maybe so.
But I think the signals of panic are so high, the lack of coherent strategy so evident, and the accumulation of threats and dangers so great, that there is little way out for them at this point. They are facing some sort of existential crisis. Exactly what form it will take and what will emerge is not easy to say. But I think it will warrant the description "collapse" by any reasonable analysis.