It’s… kind of justified: the red lane means “forbidden for cars to enter”, while the yellow slashed means “may enter, but forbidden to obstruct”. The fun part is how bikers have to go straight into the incoming traffic.
There are other funny infrastructures elsewhere, where the “bike lane” is painted in white right in the middle of the road, as in “let’s bikes and cars and buses share the same lane”… and then they put speed bumps on it. What could go wrong, right?