In logic, variables don't have a meaning by themselves. They simply hold the place in an expression where the names of objects could be present. Adopting this placeholder viewpoint, I'm having trouble interpreting the set builder notation.
Consider, for instance, the set of all natural numbers less than 10, denoted in the set builder notation as
$$\{x:x<10\}$$
A common interpretation of this notation is
The set of all x such that x is less than 10
This interpretation IMO doesn't go well with the placeholder viewpoint of variables, as when we replace 'x' by say '2', we get the expression
The set of all 2 such that 2 is less than 10
which doesn't make sense.
So my question is how should I interpret $\{x:x<10\}$ from a placeholder viewpoint of variables? I can understand only the $x<10$ part from the placeholder viewpoint of variables as it is clearly an open sentence that gives a statement upon replacement of 'x' by appropriate constants.
As an extension of this question, a similar issue arises when the domain of 'x' is specified in the set builder notation as:
$$\{x \in N :x<10\}$$
This is often interpreted as
The set of all x in N such that x is less than 10
Adopting the placeholder viewpoint, replacing 'x' by say '3' yields,
The set of all 3 in N such that 3 is less than 10
Again only the '3 is less than 10' part of the expression makes sense.
$\{x \mid \phi(x)\}$ is usually introduced as an abbreviation for something like "the set of all objects $x$ such that the condition $\phi(x)$ holds" (Enderton) or unpacked further ”the unique $y$ such that $\forall x (x \in y \leftrightarrow \phi(x))$" (Potter)
So, once fully unpacked, the only variables we have are bound variables, the $y$ bound by the description operator, the $x$ bound by the universal quantifier. No place-holder in sight. (Bound variables are not mere place-holders.)