[ttiitg]

You say the outside observer sees that it takes forever for something falling in to hit the event horizon...

To make sure I understand, would it be correct to say that relative to us, the time dilation of any massive collapsing star means that it would never even collapse to a black hole in the first place because it would take infinitely long, relative to us(?)

[spoiler]

Well, it would certainly become frozen at some point. I'm not sure if itd happen after it already completely collapsed.

Disclaimer: I am just a physics enthusiastic, take that with a pinch of salt.