One certainly can, very easily actually: edit you shell rc file in /etc to modify your PATH based on PWD, boom - hierarchical PATH the Unix way. Don't want it system wide? Edit your shell rc in the user home directory. Want something more complex? The posix shell source code is a lot simpler than you'd think. I wanted the same fancy git repo status PS1 stuff found in bash rc scripts, but without the performance impact - and in tcsh. It only took an hour of work to integrate libgit2. I don't think it would have been as easy with cmd.exe.
And I'm hierarchising my ~/bin :)