Hi,
Insulin has many functions one of these is to stop the breakup of protein from the muscle and fats from the fat cells. (ie if you have the right amount it will regulate the breakdown, some's going on all the time)
Not enough insulin will result in fat and protein loss.
This can happen when a person has T1 diabetes and doesn't have very much insulin left.(massive, rapid weight loss is a typical symptom at diagnosis and also happens if a T1 stops taking enough insulin).
It can also occasionally happen with T2 when glucose levels get gradually , insidiously , very high (44mol/l according to your post and that is very very high. ) At this level, even if you are T2 and producing a fair amount of insulin, there won't be enough to counter the glucose level and insulin resistance.
When fats are broken up, ketones are produced these can cause the blood to become acidic.
I think that's why you were on the 'multi drip tube thingy ma jig' . you may have needed to have potassium to correct electrolyte imbalance as well as the insulin to bring glucose down.
I don't recommend it as a weight loss method. I've been there (as have quite a few T1s on here). You will gain some weight again. Some of the weight loss is from water, you will have been massively dehydrated and as you say some will have been from protein. As you get fitter then you will put that back on. However, it is possible to stop putting unwanted weight back on by paying attention to diet and exercise.
I gather you haven't been left on insulin, have they given you any medication?