I got a panicked call this morning (Dec-22) from a developer out in the business who suddenly was having severe data loss. It looked like all of his data was gone. Worse, it appeared some records still had data, but as he went looking around at it, that data started disappearing!
Ultimately, it wasn't the data disappearing, it was his own app writing blank values over the data because Microsoft had f@#%3d him over by changing something relating to Records vs. Collections.
NOTE: I did just do a test w/ a locally created Collection AND with a SharePoint Collection and everything still works as usual. So now we're down to testing if this happens with Dataverse (probably), or just Dataverse For Teams.