Firstly, yes, there is some truth to the idea that address collisions can happen, but it's not quite as straightforward as it may seem. Let's through the lens of the Birthday Paradox.
According to Birthday paradox is possible to find a collision aproximatly near the first squared_root of (2^160), Now, that might sound like a lot, and it is! But here's the twist – this collision could involve any address with or without any cryptocurrency balance. To really make this work, you'd need a substantial log or database of the previous 2^80 addresses.
Now, you might be wondering about the likelihood of this collision involving some famous wallet addresses like '1Feex...' or '11111...'. Well, it's incredibly unlikely.