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Collective Unconscious in it's original form until the incredible buff AST got in 3.4 was a very weak channeled action relative to the throughput of simply casting e.g. Helios over and over. It was AST's version of both Sacred Soil and Asylum, depending on your sect, with the caveat that you had to maintain it by not moving at all.
The only time I found it useful until 3.4 (where the effects both existed and you were able to 'flash' it like so many actions from DNC to PLD) was when I was out of MP or when the boss was not attackable so my GCD economy didn't matter, with the one notable exception during Sephirot Extreme's knock-up from the Storm of Words to avoid his raid wipe: at the time, getting launched did not interrupt channelled effects so AST could apply Collective's regen though this mechanic when the party was otherwise unable to act. They later patched this, probably in 3.4, not that they ever used a similar mechanic in a tough boss to heal ever again.