There seems to be some difference between short backquote and long backquote.

(let ((x 123))
  (dolist (res (list `(a `(b ,x))
                     `(a (backquote (b ,x)))
                     (backquote (a (backquote (b ,x))))
                     (backquote (a `(b ,x)))))
    (print res)))

Output:

(a (\` (b (\, x))))

(a (backquote (b 123)))

(a (backquote (b 123)))

(a (\` (b (\, x))))

Why does it behave differently as to x? Not even sure which two of the four results are supposed to be the surprising results.

emacs elisp
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