It depends what the product is.
Most things tend to be referred to as "Collector's Edition" rather than "Limited Edition."
Of course while Collector's Editions are often limited, for me the term itself doesn't usually imply the same connotations as when something is marketed as a Limited Edition.
If something is marketed as a Collector's Edition, as a fan, I expect a publisher to manufacture enough Collector's Editions of any given product so that fans who enjoy something, and who want to spend some extra cash, can get some extra items along with the base product.
Meanwhile, if it's marketed as a Limited Edition, they often - not always, but often - will either tell you what the production run is, or make it an actual numbered limited edition.
I always felt that the point of Collector's Editions, especially in gaming, was to create something special for fans who really loved something. But I think the industry has really lost that now. It shouldn't be this huge fiasco where you have thousands of people who aren't able to purchase something because it was super limited or because a huge number of people are buying pre-orders of products and then reselling them at unbelievable prices.