Referring to this page:
The first profile is known as the "Alias" profile and it uses the global variable $value. I have read and re-read the explanation for that profile and I just don't understand it. Attribute Rules, Field Calculate, Pop Ups -- all of those make sense because I know where to find them in AGOL and/or Pro. Where/how would I use the Alias profile and the $value global variable?
It's used in the ArcGIS Pro Range settings for configuring the range alias: https://pro.arcgis.com/en/pro-app/latest/help/mapping/range/set-the-range-properties-on-a-layer.htm.
We anticipate it may be used in other areas in the future which is why it wasn't given a range specific name.