Yup, I noticed this too recently on my iPhone SE with 9.3.2. Playlists with 200 songs down to 4.
Then the world came crashing down as I tried to use iTunes to fix everything, but Sync just modified the Playlist on iTunes!
I could not figure out how to restore, but I knew my iPad was not up to date in iOS, and it still was good, so I plugged it in, File/Library/Export Playlist, and then was able to File/Library/Import Playlist back to iTunes for the 4 playlists that iTunes/iCloud messed up.
I was very lucky that I back up my playlists across devices! I also plan to make a hard drive back-up of my iTunes library this weekend as another precaution!
Good luck!
PS, as I was checking if iCloud could help (it could not), I was forced to change a perfectly secure password, and I know that I will be spending the next few days dealing with that on all of my devices :-(