Acharya Prashant explains that Maya is not something that hides the Truth, but rather it is the perception of that which does not exist. He defines Maya as the stubbornness of the observer to not see the Truth and instead cling to dreams. This happens because the observer is fearful or hopeful, leading to a blurred vision that prefers illusions over reality. When one moves away from the Truth, one must fill that void with dreams, which are then mistakenly labeled as 'truth' to justify one's life and decisions. This creates a vicious cycle where the more one builds a life on falsehood, the more terrifying the actual Truth becomes, as its touch would shatter the entire illusory structure.