Comment by ahepp

I think it's substantially riskier. At the very least, it means you are trusting any directory you cd into, rather than just trusting your $home/bin.

Stuff that would not typically raise eyebrows has been made risky. You might cd into less privileged user's $home, or some web service's data directory, and suddenly you've given whoever had access to those users, access to your user.

Maybe you could argue "well, I just won't cd outside of my $home", but the sheer unexpectedness of the behavior seems deeply undesirable to me.