The shebang line is not interpreted by the shell. It's used by the operating system kernel to figure out how to execute a file that has the executable bit on and is not a "real" binary executable. I believe it goes more or less like this:
Since tilde, alias, and other expansions are done by the shell, they don't work on the shebang line.
In reply to Re: #! -- why doth thou exist?
by itub
in thread #! -- why doth thou exist?
by punkish
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