I think this is possibly misleading.
'We' never did 'collective' parenting in the broader sense.
Both Asian and Western families were essentially nuclear, but multigenerational, and closer ties to extended family.
70 years ago, this was generally normative - and frankly often today - in that families were 2 parents + kids, but grandparents, uncles/aunts /cousins were part of the mix.
Obviously, more so in some places than others (particularly with parents living-in i.e. Asia, Italy)
Even today: 100% of my buddies who are married live within 2km of their mother-in-laws.
I think the term 'collective' is just a little bit too broad, and Romanticizes these quasi-aboriginal notions of truly more collective parenting, which frankly hasn't been part of the mix for a very long time (i.e. millennia) in most places.
The basic, communitarian concepts which we are mostly all familiar, which is to say 'quasi nuclear with strong extended family ties' will work just fine.
I think both neoliberalism and certain kinds of progressive social ideologies, without necessarily intending to move away from this, are effectively doing this, and pushing us into the 'hyper nuclear' (i.e. 1 or 2 parents only) scnenarios, which I think is less than ideal.
Having grown up in a single parent situation, and then two parents later on, it took me 30 years of reflection to realize how much single parenting is a massive disadvantage. Surprisingly, there is reluctance among many progressive circles to recognize this, whereupon the notion of 'single motherhood' is contemplated on equal footing with 2 parent families. (Though I think this is usually derived from concerns over the fact that single parent households are often the result of abuse etc.)
This odd paradox can be seen within the African American community whereupon well over 50% of kids grow up without having much of a relationship with their fathers. To some, this is an abomination, and a 'root cause of malaise' (and I'm not pointing fingers here, there are lot of men in jail that don't need to be), but surprisingly among many, they just don't see it as a problem for a variety of triggering reasons.
The nuclear+extended and obviously - community participation (i.e. teachers, role models) I think will work just fine so long as we recognize it.
And any parents who adopt foster children are straight up heroes, of that there is no doubt.