Guinan didnt lie. Shes a fictional character, and when Q-Who was being written the borg were different than what they eventually became. Why people insist on looking at this stuff like its real is beyond me.
We could also say that the queen was invented by the Collective to try and specifically deal with Humanity... or at least use her as a 'test run' (one that would end with 'Endgame' - I kinda like the thought that the Collective decided to never create a 'queen' again because it was essentially one giant failure of an experiment).
When you think about it... what Troi initially stated about the Borg was how they were best described - they don't have a single leader (one that is prone to making mistakes).
The Collective could certainly be used occasionally to present a real threat to the Feds... and I'm not saying the latter shouldn't be able to offer resistance - after all, they can be beaten, but given their very 'nature', they wouldn't stop coming, and they could be used in a way that they are 'toying' with the Federation (and other species) and just are using them for technological advancements - though I kinda find it 'limiting' that the collective is incapable of inventing new technologies - it sort of goes against what they accomplished, because they WERE able to mix and mash a bunch of alien technologies into one.
It could be used for some great story telling.
I don't particularly enjoy how the Destiny novels portrayed the Collective as overly emotional... that sort of perception goes against how they were initially portrayed.