I usually hate magic too, but I have to say this is one of the cases where I like it.
It's convenient without any danger attached to it since you're just switching directory and not actually executing something against this "unknown" path.
Opt-in bash extensions can do basically whatever people complain bash can't do. Though to be honest I don't use it that much over the last, say, 5 years. If I know a deep directory tree that well, I can just type it explicitly and/or tab complete it without losing much time. If I don't know it that well, FZF is quite nice.