Not sure what you mean by collapsible but mine can go long/short by pressing a button on the metal pole, telescoping it.

Agree with the top heavy but it's not a huge issue, if it's empty it's light enough to carry around, if it's full, it won't fall over.

As for suction, this thing blows away any Dyson I've ever had (240V UK).

I know you'll know this but for anyone else who doesn't: It's good to give the cotton filter thing a good wash every so often, the air struggled to get through when it's blocked and hinders suction.

I don't use bags, it has a big material filter in that can be washed, I just empty it in the bin and wash the filter.

Can't be dealing with emptying reusable bags and not wasting single-use ones.

I got a Henry Wet and Dry as a gift from MIL when we moved into our new place. I used it on some "light" construction around the house and it looked a total mess, took it outside and washed everything except the black part with the hose and it looks and works good as new.

The smaller ones like OP seems to be priced around £180 these days in most of the local places I've looked (and Costco), but the W&D is the same size as the XL Plus can be had for the same price, and it comes with an insert for vacuuming liquids as well as the usual filter insert.

I don't use bags, I just empty it in the bin and wash the filter with the hose.

Use it almost daily to vacuum cold ash out of the log stove as well as the usual house work.