This is odd. It's not what I'd expect based on the discussion in bug 723848.

Marking as NEEDINFO, since the cause isn't clear.

Do you have a bluetooth rfkill device, for some weird reason?
(Try "rfkill list")

What do you get from
gdbus introspect --session --dest org.gnome.SettingsDaemon.Rfkill --object-path /org/gnome/SettingsDaemon/Rfkill --only-properties
?

0: phy0: Wireless LAN
	Soft blocked: no
	Hard blocked: no
[elad@weatherwax ~]$ gdbus introspect --session --dest org.gnome.SettingsDaemon.Rfkill --object-path /org/gnome/SettingsDaemon/Rfkill --only-properties 
node /org/gnome/SettingsDaemon/Rfkill {
  @org.freedesktop.DBus.GLib.CSymbol("gsd_rfkill_manager")
  interface org.gnome.SettingsDaemon.Rfkill {
    properties:
      readwrite b AirplaneMode = false;
      readonly b HardwareAirplaneMode = false;
      readonly b HasAirplaneMode = true;
      readwrite b BluetoothAirplaneMode = false;
      readonly b BluetoothHardwareAirplaneMode = false;
      readonly b BluetoothHasAirplaneMode = false;
  };
};

Ok, gnome-shell looks at "BluetoothAirplaneMode" to see if bluetooth is enabled and should be shown, so g-s-d should set it to true if no bluetooth adapter is present.

Reassigning.

(In reply to comment #5)
> Ok, gnome-shell looks at "BluetoothAirplaneMode" to see if bluetooth is enabled
> and should be shown, so g-s-d should set it to true if no bluetooth adapter is
> present.
> 
> Reassigning.

      readonly b BluetoothHasAirplaneMode = false;

Huh. Parsing error?

(In reply to comment #6)
> (In reply to comment #5)
> > Ok, gnome-shell looks at "BluetoothAirplaneMode" to see if bluetooth is enabled
> > and should be shown, so g-s-d should set it to true if no bluetooth adapter is
> > present.
> > 
> > Reassigning.
> 
>       readonly b BluetoothHasAirplaneMode = false;
> 
> Huh. Parsing error?

Oh! There is no BluetoothHasAirplaneMode in the client side interface in gnome-shell.

Ok, we can fix it here :)

Created attachment 272175 [details] [review]
BluetoothMenu: fix visibility

In addition to BluetoothAirplaneMode, we need to check also
BluetoothHasAirplaneMode, which is indicative of bluetooth rfkill
devices (and by extension bluetooth adapters).
This prevents showing the menu if there is no adapter present.

Review of attachment 272175 [details] [review]:

LGTM

Attachment 272175 [details] pushed as c22264a - BluetoothMenu: fix visibility