SUBST only assigns drive letters - you cannot subst to a word.
Even "un-user friendly" Linux with it's mountpoints organises system files and stuff better than windoze.
The Linux way - all libraries tidied away in /lib. They all end with .so.0 or .so.1 etc for version numbers
The Amiga way - all libraries put in libs: assign, with the idiot-proof ".library" extention
The Windows way - libraries in c:\windows\system32 (or c:\winnt\system32 sometimes), in various subfolders, in program files etc... Mainly .DLL
"Idiot-proof" Windows has the least logical way of doing it.