As someone who doesn’t cycle this is mind boggling. Obviously if you arbitrarily pick which laws you follow you will be better off. I can’t stand cyclists they observe laws like pedestrians when it’s convenient but want to be treated and afforded all the same space on the roadways as cars.
It isn't arbitrary, it minimizes the chance of a car/bicycle collision. Most car drivers are bad at interacting with cyclists. The downside for someone in a car is a messed up bumper and scratched paint, the downside for a cyclist is injury or death.
Bicycles are in a 3rd place between motor vehicles and pedestrians, of course they can transition between modes in ways that cars or pedestrians cannot. So can people on skateboards, skates and the myriad of personal electric vehicles.
I am extremely cognizant of how I operate a bicycle around pedestrians, the onus should be on the person operating the dangerous device in the interaction.
Cars don't own the road. Look at the history of jay walking and how the person car dynamic has changed over time.