I purchased 2 of these for the wife last year at different times, and a year later we finally got to use them. Please be aware, that the reviews here may NOT be for the same exact product, hence the difference in opinions by some people.
While the two racks are essentially similiar, it appears that the manufacturer drastically cut back on their cost and quailty of the racks. The earlier model has the steel bars MUCH thicker than the newer models, with an additional support along the side edge. Even the collapsable legs are so much thinner and bend more than the older version.
The old one with the thicker steel is built like a tank, and can hold quite a bit of weight. I would not hesitate to put heavy pies on them ... not so for the newer model. For cookies both are adequate and are definitely a space saver. When you fill up one, just put another one on top.
The thicker steel one definitely gets a 5 star rating. The thinner one, a 4 star rating for cookies, and less if you are thinking of putting something heavy like a pie on them.
The legs are extremely stable for the old one, a bit more flimsy for the newer one, and you can definitely see the deflection difference in the racks when you apply some weight on them.
For the below reviewer that had collapsing problems, while we had no collapsing problems, I can see how the thinner one can do so, especially after it distorts some with use.
I like the product a lot, but am extremely disappointed that the manufacturer cheapened a great product to save some money, rather than raising the price some. And it wasn't just the thinner material, it was additional cross members that were removed. Let's see ... use thinner material AND reduce the number of supporting cross members. Draw your own conclusions here, but I for one am sick and tired of so many newer versions of products being made so much cheaper than the ones they have replaced ... CorningWare, Pyrex, Wilton, Farberware, etc ... all now producing junk as compared to what I was able to purchase 10-30 years ago.