It is worth acknowledging that this probably seems unintuitive to a new user. Makes it look like the shell has two different aliasing systems.
It makes sense the more familiar you are with bash, though. If you ever tried to cd /some/other/path-with-docs/in/the/string you'd end up accidentally running cd /some/other/path-with-/media/docs/in/the/string.
Which would be confusing at best, or a security issue at worst. Better to see that $ in the cmd and know you're injecting a var's value.