This is a tricky one, because a lot of people don't fully understand that DUST collection and CHIP collection are two quite different things.
Dust - very fine particles, hang in the air, very dangerous to breath and potentially explosive. 4" pipe, high volume of air movement needed, but not powerful suction. Important to have as few bends as possible in the pipework to avoid the dust settling in zones of low movement. Your typical dust collector serves for this.
Chips - big pieces, fall to the ground, get in the way so you can't see what's going on at the cutter. For this, a shop vac with 2.5" pipe is typical - it has a high static pressure (suction) but doesn't move a huge amount of air the way a dust collector can.
To keep the shop floor clean, you need a shop vac. To keep the air safe to breath, need a dust collector (or an air filter, which draws in room air and propels it through filters.)