sets.md and collections.md are very similar in their appearance and layout, however they function somewhat differently.
For instance, the views.md, filters and sorts all work mostly the same, but the way you choose which objects will be shown inside the set / collection is very different. Sets use queries which automatically fetch objects, while collections depend on linking the objects manually.
You can count objects in the Grid view and perform simple math and aggregation functions with all types of relations.