Blanchot does not make writing out to be an activity one does for pleasure. It almost seems like there is a necessity to do it, and I think he thinks that dread (at least partially) constitutes either the book itself, the process of writing, the author, all three, I'm not entirely sure. Dread is immediately posited in opposition to reason, which, among other things "fundamentally challenges its capacity to exist." Yet, dread is only possible because reason exists. So it seems like in a way dread is challenging its own capacity to exist. I am not sure if it is a dialectical relationship but it is definitely oppositional.
Dread is defined in a few ways, its relation to reason is one. Another way is it is a 'fundamental anxiety', i would guess whose anxiety it is is ambiguous. It "opens and closes the sky", pretty metaphorical but dread seems to be a precondition to writing so perhaps it relates to that. But, he says , Dread is "more than anything else this indifference to what creates it.....at the same time it seems to rivet the man to the cause it has chosen." I mean, writing seems like what he's obviously talking about and i feel like there are few examples that aren't writing!
He says that dread attaches itself to the writer constantly, making the writer lose themself. There is no direct communication with dread, which leads to language which Blanchot says is a kind of abandonment or giving away.
Blanchot flirts with an almost Bataillean view on art, that it is useless and that is why it is good, etc. but eventually he comes to the view that it is something transformative.
I didn't write this down in my notes but I think he said literature doesn't have this power because of dread and its essentially empty? I dunno im not sure sounds like something he'd say though