I doubt it's "erasing" the disc, but it may be unreadable for a different reason (layer separation, etc.). Shouldn't happen, but does. I always wondered if storing discs in a vault versus in their original case affects longevity. There is certainly more ambient heat in a vault stored situation versus a case, but not sure that's the cause. One thing for sure is that not all discs are manufactured to the same standard, this is evident by examining discs you've had in storage for a long time. I've seen "bubbles" between layers, peeling of edges on a few, significant discoloration, etc.. Again, not sure this affects the ability to read the disc, but seems logical to me.
The Vault occasionally runs an "inventory" check of discs to insure they are still in the Vault. It does not check all discs during inventory, but those it does check obviously need to be readable, or you will get that message. Most of us with Vaults have received that message at some point, many of us multiple times. I've already had to remove a couple dozen discs over the last few years, and had a day that I lost 3 movies from the same Vault. I could get all of them to play in a separate player except one, and that was unrecognizable to any of my optical drive base Players. Unfortunately, you'll get little help from K on this subject, there apparently isn't anything they can do (I base that on asking many times in the past, but there is no good answer). So, we have no choice but to tolerate the problem because of the disc storage requirement for BR content. If the movie is important to you, try another copy (preferably new).
Jim