Yes, if you assume the toe has "a viewpoint," then from its viewpoint, things have collapsed. But as you are not your toe, this has no observable consequence for you. It's pure philosophy.
Similarly, your consciousness could be considered just another measuring device from the perspective of someone outside the system. But by virtue of being "outside the system," their results have no bearing on you either.
You are the point at which "the magic happens" in your world -- which is just the place you normally call "the" world. It is the point at which neither you nor anyone else you can communicate with (i.e., no one else in "the world") can demonstrate interference, even in principle.
Similarly, your consciousness could be considered just another measuring device from the perspective of someone outside the system. But by virtue of being "outside the system," their results have no bearing on you either.
You are the point at which "the magic happens" in your world -- which is just the place you normally call "the" world. It is the point at which neither you nor anyone else you can communicate with (i.e., no one else in "the world") can demonstrate interference, even in principle.