Why is my purchased music grayed out in iTunes music library?

iTunes decided to gray out 90+ percent of my music! - I DID PURCHASE all those vinyl records I transferred to MP3s and physical CDs that I put on iTunes.  I no longer have my CD or Vinyl collection as a back up. It was pain staking setting up 100s of playlist in iTunes and I considered by owning 2 iPads the second iPad was my back up (greyed out in both iPads). I don’t use iCloud for music as years back as iTunes transcribed all my playlists to have the same album cover and took me months to straighten out.

[Re-Titled by Moderator]