> Why would using a "$" be any easier/safer than a NUL?
I didn't say it had to be '$'; I specifically said that the sentinel would be loaded into a register. In that case it could be anything, including zero (for the snippet you posted), or INT_MAX if the code iterated across an array of integers, etc.
By having rep/mov variants that use sentinels, a lot of the HLL problems go away - Java, C#, Python, etc would all look very different today if the ISAs from the 80s included sentinal variant of memory instructions.