While people are perhaps being overly harsh of Collins skills, I don't see how you can say it'd be a wash moving from Manning to Collins just because Collins throws a nice deep ball. And predicting a 4000yd, 30 TD season is very bullish imo. Collins has thrown for over 3800 yards just once in his 17 year career, and that happened 9 seasons ago. He's also never thrown more than 22 TDs in a season. Having a career year at the age of 38 is unlikely to say the least, no matter how good his supporting cast is.
Exactly, it's not like it just happened two years ago in Minnesota, right?

Seriously, though, while I agree that you can't say the move from Manning to Collins is a wash for the Colts, as a REAL FOOTBALL team, I think it might not be that bad of a move, FF points-wise for the receiving options in Indy.
While the Colts might try to run more to account for not having Manning under center, the reality is that the Indy run game isn't great, and neither is their defense.
They will likely have to pass the ball to stay in games, or to catch up. So the opportunities will be there for Wayne, Collie, Clark, etc.
I don't think any of the Indy receivers are going to have career years, but I think that with this news, they are going to be under-valued, and could be "bought low" in trades now.