No you are interpreting the fundamentals correctly, though to expand on this point the physicality of Outer Essent presents itself by giving Victus forms a 'physical' way to react with one another. It is not the same type of Physical as found in the Equilibrium, an easy way to think of it is that they are both on the same spectrum of 'physical' but they are at different ends, they are different forms of physicality. But in saying this, physical objects that do not have a Victus form are no present in the surrounding realms just because of that; they do not have a victus form or any proper Outer Essent form that allows them to be present in other nearby layers as the Equilibrium is a by product of properties separating themselves from essent to become something new.

That said, a structure made out of wood from a tree that had an exceptional amount of essent within it would be present in these surrounding layers. Additionally, in the realm of Alchemy, substances infused with essent will also be interact able in these surrounding layers such at mediums.

To further expand on the original topic, a user can actually take a medium or essent infused substances anywhere into other layers. Although unless you've designed a medium or substance to specifically work in layers close to or within another realm, they will just become useless or work differently.

I hope I haven't made things more confusing, I'm going to require your patience as I've been really sick the past few days with the flu, so I don't want to start IC posts until I am feeling better.