See the original comment here: #1236 (comment)
The word "envelop" is being used here, in a way that aligns with "VerifiablePresentation".
I find the concept of "VerifiableCredentialGraph" confusing, and note that it does not occur even once in the current TR.
https://github.com/search?q=repo%3Aw3c%2Fvc-data-model%20VerifiableCredentialGraph&type=code
I prefer to remove the term, since it can only lead to more confusion.
If the term is providing value, I prefer to unify that value with "VerifiablePresentation", but would need to know more about how it actually works, to even propose a path to that.