It has to do with how the application that you launch runs and terminates. Some programs launch another process and then terminate, others continue to run. Calc.exe and Notepad.exe simply run until you close them. Write.exe and any program that launches as a result of a file association (e.g., bitmap, wave file, control panel applet, etc.), actually launch another program and then the process that launched them terminates returning control back to the batch file so it can execute the next line.
Here are some examples:
@echo off
echo Starting Calc.exe
calc.exe
echo Calc was closed by the user
echo Starting Notepad.exe
Notepad.exe
echo Notepad was closed by the user
echo Starting WordPad.exe
write.exe
echo Write launched WordPad and then terminated allowing the batchfile to continue
echo Starting Services.msc
services.msc
echo Windows launched MMC, opened services.msc, then returned control to the batchfile
echo Launching WMP via Chord.wav
c:\windows\media\chord.wav
echo Windows launched WMP, opened Chord.wav, then returned control to the batchfile
The CMD process knows Calc and Notepad are still running because it spawned them itself. The CMD process does not know that the others are still running because the intermediate process terminated.
To observe this, open Process Explorer and view the processes displayed in the hierarchical tree. Calc.exe and Notepad.exe both remain as child processes of the CMD process that ran the batchfile. Write.exe and MMC.exe (services.msc) both become top-level processes, no longer children to the CMD process. WMPlayer.exe remains a child process to svchost.exe, which is how Windows launched it. The CMD process doesn't know they are still running because it didn't launch them, some other Windows process did. So execution continues...
One more example of this is how MSPaint.exe functions. If you run it by using the Windows built-in file association for BMPs, then Windows launches MSPaint.exe and control is immediately returned to the batchfile. However, if you pass the BMP to MSPaint.exe, then the batchfile waits for you to close MSPaint before continuing. (I'm on a dev machine with no BMPs, so create a simple one called C:\MyBitmap.bmp.)
@echo off
C:\MyBitmap.bmp
calc.exe
mspaint.exe C:\MyBitmap.bmp
notepad.exe
Calc.exe will open immediately, Notepad.exe will not open until you close the second instance of MSPaint.exe.
I know you didn't ask about launching Windows processes via their file association, but it just demonstrates how the owning process can change. If the CMD process owns the launched process, it should wait until it terminates to continue execution. If the spawned process hands control off to another process, then the CMD process doesn't know about the grandchild process and it continues on with its execution.