This is a fascinating occurrence. As you know, a diaphragm reg with no diaphragm is an upstream valve, and remains closed. So what must have happened here is a dislodged diaphragm edge that was nonetheless still intact enough to maintain pressure on the pin hat and keep the valve open. Which makes sense, since the main spring and the pin hat would have clamped the diaphragm center between them, while the edge fluttered away!The diaphragm let go blowing out the environmental seal draining the tank in what seemed like seconds.
Scary! Especially if we can't blame abuse or poor service.