Doesn't look to me like a bug.
Why do you think that spurious directory is valid? Can you refer to an RFC that defines that alfresco should behave differently. If so then please raise a JIRA with full details.h
Update: I've just been reading RFCs. The CWD argument is application specific, so it's up to alfresco to define how it works. Just because one FTP server ignores that error does not mean all should do so.
Still open for discussion, especially if you can back up your argument.