Moreover, Time Machine reports “Oldest backup: None” and “Latest backup: None”. Also, Finder does not show any files present on the SSD. However, Get Info reports gigabytes of disk usage.
I just found this thread as after years of TM working fine, I suddenly started having this exact problem.
This is with both a MBP 2019 Intel and a Mac Mini M1 running Big Sur 11.6.1. I am having the issue on both machines using both external SSDs (Samsung T5, APFS-formatted with encryption) and with a QNAP NAS. I have tried erasing the SSD completely, and the backups on QNAP, and starting afresh but the same thing happens.
All the backups appear to complete, then there is no date in either Oldest or Latest Backup fields. Running a backup again copies a bunch of more data, but the same lack of completion and no dates shown.