I just wanted to update that, in my case, reverting to a backup prior to the onset of the bug has continued to work for my realm. It has been nearly 2 days and probably about 6 hours of played time since reverting to the backup and the problem hasn't resurfaced yet.
In case it matters, my process for reverting to the backup was:
1) Download the backup from the realm server.
2) Load it locally (W10) and log into it.
3) Save & Quit.
4) Load it again, but select Play on Realm for the locally saved world.
So far this has worked for me. Prior to this, I was experiencing the same problem as everyone else describes. It persisted for about 6 hours with a crash and revert to the same point every several minutes. Once I did the steps above, the problem ceased.
I see. My issue only started about 24 hours ago, and it has been about 18 hours since I reverted to the backup, so the issue only "aged" about 6 hours in my case.
@Andrew, for me it is rarely as short as 30 seconds, and it was generally from a few to tens of minutes before the "reset" would happen. It always reset to the exact same point regardless of how long it took to occur though. Also, prior to the reset, it was only the last several seconds before a disconnect before I wasn't able to interact. Before that point I could make changes, they would just get wiped out once the disconnect occurred. My world is 97 MB.
My realm still seems to be behaving normally since I reverted to the backup though. I have roughly a few hours of playtime into it now and I haven't had a reset (and ~16 hours of elapsed time).
@Thomas, they have seen them enough to redirect a bunch of other tickets to this one, so they've certainly noticed the issue, but I really wish they would give us an update.
I'll update if my "fix" stops working for me. I was able to play the realm for ~1 hour last night with the backup. We'll see if it holds.
I was able to fix this issue (at least so far) by rolling the Realm back to a backup that was ~1 hour older than when the issue first started occurring.
Just ran into the same issue playing split-screen multiplayer with my son and daughter on Xbox One X. The fight was going really well, but as soon as the second phase hit it became totally unplayable. I managed with multiple death runs to save my gear (all maximally enchanted netherite), but my son lost everything but his pickaxe and helmet. It was a real disappointment after all the preparation we put into it =/