Caught on video: Who has the right of way when both are wrong?

It's hard to tell who has the right of way when both parties are in the wrong. Such is the case from this video-recording. This video, first uploaded on Youtube more than a year ago, had grabbed 743,658 views as of Tuesday. It received more than 4,100 comments, with the recent ones dating less than a month ago. A cyclist, probably a messenger who is on a delivery trip, goes against traffic. He cycles against the direction of oncoming traffic, sometimes going in between two vehicles. It's fairly straightforward cycling until 16 seconds into the video, when a man in a business suit suddenly steps out onto the road from a blind spot behind a parked vehicle. The jaywalking pedestrian did not even spot the oncoming bicycle which was zooming towards him, presumably because the bicycle was travelling in the wrong direction. The cyclist bangs into the pedestrian and knocks him off the feet, sending him flying. The man in the suit lands on his back and luckily, he appears to be fine and scampers back on his feet quickly. When the cyclist asked the pedestrian whether he was alright, the suit replied: "Yeah but you're going the wrong way." To which the cyclist replied: "Yeah. You're not using the cross-walk." The pedestrian swiftly came to realisation, admitted his error and coolly walked away. At the end of the video, the cyclist explains to someone outside the camera's view: "He wasn't using the cross-walk. Cancels out. It's ok. Keep walking."