I've been battling with this since last week.
I've fixed the permissions on my system drive and my 2nd drive which contains the media. This made a difference to the number of tracks that matched but it still failed again.
I then cleared out the contents of my iTunes Match library so that iTunes Match shows zero songs available using a temporary library. Then I re-enabled iTunes Match using my original library. It gets to the exact same point and stops each time.
What's weird is that there are some albums where some of the tracks match / upload and some don't. So, i looked at the full details of them and discovered some of the tracks had a composer set and some didn't. I have unified this on a few albums to see if that helps.
This then led me to the suspicion that there was something else different about the tracks that worked and those that didn't. I checked into it and the ID3 tags were different versions. So I reset every track to ID3 tag v2.3 and tried again - no change.
I tried deleting the contents of ~Library/Caches/iTunes (might be com.apple.iTunes) as there was some old content. No change.
Router reboot - no change.
So, now i'm going down the ridiculous route before I tear out my hair - i've cleared my iTunes match library again last night (deleting less than 1,000 tracks at a time - I found an article advising this). It now says zero songs available from any device.
I've deleted all devices from my store account and deauthorised all computers.
I've now left it overnight until I get home tonight. Next step is to delete my library and the iTunes preferences, then start again with a brand new one.
I'll be adding the tracks back into my library one artist at a time to see if I can pin down a definitive cause (other than iTunes Match being a lemon), or at least rule out that it's not my tracks.
If this doesn't work then it's off to Apple support we go, and I'll be taking a refund request with me if they can't sort it.
Cheers