It does not work both ways.
One party to this is a high-inertia, potentially high-velocity metal box that, in an impact with the other party, typically results in an property insurance claim.
The other is a low-inertia flesh bag that, in an impact with the other party, results in a medical insurance claim, and possibly a funeral.
All the more reason to be aware of who you’re sharing the road with.
I spent a decade cycling for commute in a capital city in Australia. I’m also a tradesman, so I’m well aware that some people actually work on the road.
By being a pedestrian or cyclist, you’re literally in other people’s workplace.
Delivery drivers, construction workers, breakdown services, road maintenance, electricians, crane operators, cars for hire, emergency services, light rail operators.
As a pedestrian or cyclists, or motorbike rider, you’re particularly vulnerable.
Sometimes you need to get out of the way.
Share the road.