I want to create a Docker Image that acts as an executable for which the user passes a token as an environment variable. The executable has sub commands that the user should
As specified in the docker documentation, you are specifying an entrypoint that calls a shell (thus not in the shell form, but the exec one). The parameters are passed to the shell (and therefore ignored); only the command in the shell matters. You will see your issue solved after switching your entrypoint call to:
ENTRYPOINT ["usr/bin/mycmd", "--token=$MY_TOKEN"]
Calling a shell in an entrypoint is something heavily discouraged, and precisely only useful when you want to avoid users of the image append custom parameters to your entrypoint.
See you in the interwebs! :)