Not only that Google has accidently marked all websites as malware, as I read now also ma.gnolia has a very severe problem (not that it is as important as Google of course): They lost all their data!
I wonder how such a thing could happen and I hope that Larry will tell us what he eventually did wrong and could have done to prevent this so that other services could learn from it. But nevertheless it sounds very much like having no backup which of course is a problem always. But maybe it could start a discussion on how to best do backup on a highly dynamic site.
It also raises the question again though what sort of control you have over your data, how you can make sure that your data is not lost by such an accident, e.g. that you always have your own backup possibilities as a user. Imagine Google or Facebook going down with all your data. This might be very unlikely but not impossible. And of course the problem is bigger with smaller sites like Ma.gnolia etc.
Maybe once again a reason to join the DataPortability Project to fight for more user control.