He is saying that the probability density cloud IS the electron (in the unobserved state). This is what most people don't know, then claim the atom is 99% empty. It isn't. That electron has a high probablity density in that volume of space around the atom.

Howevern when you measure the position of the electron, physicists say that the wavefunction collapses to a point and the electron essentially pops into exsistance as a particle at that point.

When the atom is left alone supposedly the electron goes back out of existance as a particle and