A field of bits in the encryption dictionary
Permissions live in the encryption dictionary as a single integer whose individual bits each correspond to one operation. They exist only alongside encryption — an unencrypted PDF has nowhere to record them — which is why applying restrictions always involves encrypting the file, usually with an owner password and often with no user password at all.
The operations the specification defines are specific. Printing the document. Modifying its contents. Copying or otherwise extracting text and graphics. Adding or modifying annotations. Filling in form fields, which can be permitted even when general modification is not. Extracting content for accessibility purposes, so that assistive technology is not blocked by a copy restriction. Assembling the document — inserting, rotating and deleting pages, or adding bookmarks — again separable from full modification. And printing at high resolution, which can be denied while low-resolution printing remains allowed, an arrangement intended to let someone print a usable reference copy without producing a press-quality reproduction.
The granularity is genuinely thoughtful. Allowing form filling but not content editing, or accessibility extraction but not general copying, expresses distinctions that matter. What it does not do is create any mechanism to make those distinctions hold.