I study damaged manuscripts. A missing line is not empty in the same way as an unreadable one. With an unreadable line, ink, spacing or a later quotation may constrain what was present; with a missing leaf, even the length of the loss can be uncertain.
Editors sometimes mark both with brackets, giving them a similar visual status. I keep the evidential situations separate because reconstruction should inherit the limits of the loss. A plausible sentence is not improved by being grammatically elegant if the surviving page provides no reason to prefer it over several alternatives.
The edition presents conjectures at different confidence levels and retains the physical spacing of the surviving text. This prevents typographic fluency from making a speculative completion look as continuous as readable ink. A conjecture can therefore remain useful for search and comparison without being promoted to the same evidential status as text recovered from the page.