Reading a secret means peeling the envelopes from envelope encryption in order. Your key provider (where your key lives) unlocks your private key; your private key unlocks the vault key; the vault key unlocks the data key; the data key unlocks the value.
your key provider (passphrase · security key · cloud KMS)
│ unlocks
▼
your private key (never leaves your machine)
│ unlocks stored once per member
▼
vault key (one per vault) ──► everything right of here
│ unlocks is stored a single time
▼
data key (one per secret)
│ unlocks
▼
the value (what you actually wanted)
Every encrypted file is also stamped with where it belongs: which organization, which vault, which secret, which version number. Move one somewhere else and it simply refuses to decrypt. That closes off a whole family of attacks where someone shuffles files around to make your application load the wrong credential.