Yes, that's why the dollar-paren was introduced. Backquotes can be nested too, but that requires escaping them with backslashes and we don't want to go there if we can avoid it.

Apart from the nesting thing, I find dollar-paren easier to read, especially when enclosed in double-quotes, as it usually is.

I thought that one difference between the two is that dollar-paren trims any trailing newlines, but it turns out I was wrong -- they both do that, so the difference is purely about quoting and readability.