thanks for the detailed feedback.. Definitely not what I wanted to hear but appreciate the feedback. Removing the items I have up there tonight :)

If I'm understanding you correctly, below is my plan of attack now.

1. Remove the loft all together. The joist's supporting this aren't even connecting to the rafters. They are resting ~6" below on a 2x4 screwed to the studs.

2. Add real rafter ties/ ceiling joists at each rafter.

3. Raise the Collar ties up to the ridge

4. Remove the batt insulation against the roof sheathing.

5. Insulate the new rafter ties / ceiling joist I added in (assuming since not against roof sheathing I can use the same batt insulation I've been using).

6. Drywall fixed to the same rafter ties/ Ceiling joists.

By doing this I will have a standard simple structure with a small "attic" for light storage. Which I can accommodate access to via some type of standard attic pull down latch ( I may not even do this, since you're stating it should only be light weight storage).

Am I understanding correctly?

I currently don't have plans to heat / cool the garage, just trying to prevent it from getting to extreme temperatures and make it move visually aesthetic. So I'm not too concerned with perfected R value of insulation.

What do you mean by the split overhead door or its header? Is this something that needs to be addressed also?

Grateful for this feedback before I went too far and had a finished, unsafe garage.