I have a pretty large collection as well, but even in a huge 4-player epic game that took literally all day to play I only used a fraction of it. One conversion kit of each faction, plus either buying a couple extras and selling/trading off the excess components or buying other people's extras, and I'll have more than enough components to play pretty much anything, even if I have to use the "wrong" ship base to cover extras in the odd casual or epic game here and there.
It's still not an overly cheap investment, but I think there's this idea of "oh no I have tons of ships and I have to convert every single one them or I can't play" that is just not true. Even with a huge collection, you can realistically get by with a 150-300 dollar investment, which can be spread out and/or partially recovered to some degree.
And of course if you're just playing casual games at home and you're fine with how 1.0 plays, then it's totally fine to just stick with it.