The product catalog was showing correctly in admin. After going through the obvious checklist
- Are all products in the correct categories
- Are all products in stock
- Are all associated products in stock
- Are all products enabled
- Are all products Visible
As a last resort before turning to restoring a backup we disabled all products from Admin and re enabled all products. Presto! The problem was resolved.
So if you get in a situation that your Magento products are not visible on the front end of your store the solution might be to disable them, then re enable them all.
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