Has anyone actually had failed backup restoration before? It’s been a meme forever, but in my ~15 years of IT, I’ve never seen a backup not restore properly.

Yep. At one place I worked, we did a big off-site disaster recovery exercise every year.

Most of the time it went fine, but there were multiple years where a restore didn’t work due to an issue with one or more tapes. Either the data and/or indexes couldn’t be read, or the tape physically failed during the restore.

Backups aren’t backups unless they’re tested.