"Egolessness" does not mean that nothing exists, as some have thought, a kind of nihilism. Instead, it means that you can let go of your habitual patterns and then when you let do, you genuinely let go. You do not re-create or rebuild another shell immediately afterward. Once you let go, you do not just start all over again. Egolessness is having the trust to not rebuild again at all and experiencing the psychological healthiness and freshness that goes with not rebuilding. The truth of egolessness can only be experienced fully through meditation practice.
From "The Meeting of Buddhist and Western Psychology," in The Sanity We Are Born With: A Buddhist Approach to Psychology, page 10.