For most people, this was an annoying few days rather than a real loss. Your sleep and heart data was being collected the whole time, and the update puts it back where you can see it. That matters most for anyone who uses HRV or resting heart rate to plan training, or who pays for Premium to track long-term trends.
It also shows how much now rides on one app. Google has spent this year folding Fitbit features into Google Health, and the old Fitbit app is being phased out for the remaining holdouts. When the app stumbles, there’s no fallback, especially for Fitbit Air owners. One problem isn’t solved yet, either: some iPhone users still report trouble syncing the Fitbit Air itself, and Google hasn’t said much about that.
Version 5.12 wasn’t all bad news. It added blood pressure logging, which you can enter by hand, through the chatbot, or import from Apple Health and Health Connect, plus a way to log a pregnancy and a glucose chart that lays meals, sleep and workouts over your readings.