Personalized multimodal large language models (MLLMs) aim to generate user-specific responses, but existing methods mainly rely on profile-level information and overlook diverse user preferences. We identify group preference collapse, where multi-user personalized MLLMs become insensitive to individual preferences and drift toward dominant population-level choices due to suppressed preference signals and unreliable preference use during generation. We propose PrefMoE, a preference-centric framework that separates stable profile information from preference-related representations. PrefMoE decomposes preferences into shared prototypes and personalized residuals, preserves individualized residuals with imbalance-aware learning, counterfactual pseudo-user augmentation, and residual decorrelation, and routes profile and preference factors through separate LoRA adaptation paths. Experiments across multiple MLLM backbones show that PrefMoE improves preference-sensitive personalization while substantially reducing preference collapse.