You can have different databases store files in different subdirectories too, but I don't think the primary consideration is how many files there are - what about how long it takes to open all the files and read them or to flush changes to all the files? I guess it depends on how many of these collections are being used in parallel...
I'm going to guess that 70M collections+indexes is not going to be good performance on a single server. Are you thinking that a single replica set would be handling this data?
If you were thinking of sharding it, then you could split the collections across your shards so if you had N shards, each one would only have 70M/N collections+indexes.
Asya