All the chainring bolts were in there. I had just assembled everything, so they were pretty tight. But, upon disassembling everything after the carnage some of the bolts felt loose. Now, maybe this is because they weren't tightened enough to begin with or maybe some loosened as the ring was pulled away from the arm spiders. Two of the bolts/ring spots were pulled away from the spider and the ring even cracked where the bolts secured it.

How would loose CR bolts make this happened? Might the CR slip, then the chain move, then fold over?

The chainline was nearly perfect.

So, I'm gathering the culprit was loose bolts, I'm just trying to picture the mechanics of this failure.

Thanks for the info so far.