। ॥ ७६६ ॥
In plain words
Dream and waking are both effects of avidyā, so the two are on equal footing. The construction of seer, seeing, seen and all the rest runs identically through both.
Close to the Sanskrit
Because of being effects of avidyā, the two — dream and waking, both — are equal; the imagining of seer, seeing, seen and the rest is the same in both.