I cannot judge translation issues, but I think that substantial view of reality arises together with the act of starting to conceive. In this process of conceiving things, things become more and more concrete and substantial. At least they appear so at those moments.
Conceiving is a kind of involvement that goes together with an inherently wrong understanding of ourselves, others, situations, reality. I am quit sure about this.
It is like being so involved in a movie or dream that one shows all signs that one experiences it as reality. Conceiving makes things substantially real as it were.
One gets easily lost in conceiving. That moment one experiences the conceived as real, truth, reality, as how things really are. There is also love to experience things as real while they are not real.
Conceiving is a strong tendency of the mind, i can see that. The kind of understanding that arises together with conceiving is, i believe, the opposite of direct knowledge and seeing things as they really are. The Dhamma leads to direct knowledge but not to conceived or intellectual understanding.
Delusion (moha) and experiencing the conceived as real, as how things really are, are very close, i think, if not the same. If one makes the head ones home, one becomes more and more deluded.
I am at a point i feel addicted to conceiving. I see it as a fetter. I am a conceiving addict. I confess.
Even while i realise it is not the Noble Path, and not the Path to understand Dhamma, nor practice it,
i feel conceiving and the will to conceive controlls me. The stream or wind of conceiving is like a flood or storm. A mental stream that takes controll over our understanding but also distorts it.
It is not the stream Buddha talks about but it is a strong flood and there is also love for it.