This is the best summary I could come up with:
Perhaps a "syncing" issue could remove files from your computer before uploading (that still doesn't explain the claims of missing web documents, though).
If you hold shift while clicking on the Drive system tray/menu bar icon, you'll get a special debug UI with an option to "Recover from backups."
Google locked the issue thread on the Drive Community Forums at 170 replies before it was clear the problem was solved.
Taking away the space to diagnose the issue and communicate fixes adds to the sense that Google is more interested in PR damage control than helping users.
It also doesn't allow people to reply to the "solution" post, so it's hard to evaluate the fix's efficacy since Google shut down the easiest avenues for user feedback and support.
Drive isn't just a consumer product, it's also aimed a businesses looking for terabytes of file storage, with paid tiers that can be priced into the stratosphere.
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