दृश्यं शरीरम्
In plain words
What is seen is the body.
The commentators
Śivasūtra with Kṣemarāja's Vimarśinī
ईदृशस्य महेच्छस्य - दृश्यं शरीरम् ॥ १४ ॥ यद्यद् दृश्यं बाह्यमाभ्यन्तरं वा तत्तत् सर्वम् अहमिदम् इति-सदाशिववन्महासमापत्त्या स्वाङ्गकल्पमस्य स्फुरति न भेदेन । शरीरं च देहधीप्राणशून्यरूपं नीलादिवद् दृश्यं न तु पशुवद्द्रष्टृतया भाति । एवं देहे बाह्ये च सर्वत्रास्य मयूराण्डरसवदविभक्तैव प्रतिपत्तिर्भवति । यथोक्तं श्रीविज्ञानभैरवे जलस्येवोर्मयो वह्नेर्ज्वालाभङ्ग्यः प्रभा रवेः । ममैव भैरवस्यैता विश्वभङ्ग्यो विनिर्गताः ॥ इति । एतच्च भोक्तैव भोग्यभावेन सदा सर्वत्र संस्थितः । इत्यनेन संगृहीतम् ॥ १४ ॥
In plain words
The perceived is the body. For one of such great will: Whatever is perceived, outer or inner, all of it shines for him like his own limb, in a great absorption like that of Sadāśiva, as "I am this", and not as something separate. And his body, the physical body, the intellect, the prāṇa and the void, appears to him as something perceived, like blue and the rest, and not as the perceiver, as it does for the paśu. So in the body and in outer things alike, everywhere, his grasp of things is wholly undivided, like the fluid in a peacock's egg. As the Vijñānabhairava says: "As waves from water, flames from fire, light from the sun, so these waves of the universe have come forth from me alone, Bhairava." And this is gathered up in the line: "The enjoyer himself, as the enjoyed, abides always and everywhere."