The current form likely derives from a phono-semantic compound (形聲, OC *sʰleːd): semantic 宀 + phonetic 䊪(OC *m·raːds, *m·rads, *m·raːd), as attested in the Western Han period. 宀 is later replaced with 穴, and 萬 corrupts into 廿 and 禼. Based on the corrupted form, Shuowen erroneously interprets this character as a phono-semantic compound (形聲, OC *sʰleːd): semantic 穴(“cave; hole”) + semantic 米(“rice”) + phonetic 廿(OC *zid) + phonetic 禼(OC *sed). In the current form, 廿 is omitted and 米 is replaced with 釆.
I took the liberty to make an assessment and saw that the palace of our lord was piled full of precious things and treasures, with dogs and horses filling the outside stable and beautiful women filling the front hall.