Hiding encryption key via p-file?

How safe would it be safe to store an encryption key in a p-file within a switch-case statement? I was reading that it is possible to use the debugger to extract variables from a p-file.

However, I read here that switch is a function that cannot be be shadowed: https://www.mathworks.com/matlabcentral/newsreader/view_thread/271697 Can someone clarify this for me?

Thanks!

[Anudeep Katragadda]

This is from MATLAB documentation that can be found here: https://www.mathworks.com/help/matlab/matlab_prog/protect-your-source-code.html

When MATLAB P-codes a file, the file is obfuscated not encrypted. While the content in a .p file is difficult to understand, it should not be considered secure. It is not recommended that you P-code files to protect your intellectual property.