I dont think he was trying to run the red light, but rather stop the other driver from changing lanes.
I see this everyday, and I do the same thing the OP did. Im coming up to an intersection, noone in front of me, and someone in the opposite lane wants to get around the car in front of him and have the clear lane. People do this even if they are a much slower driver than the guy in front of them. It pisses my off and I will speed up to stop them, problem is that it does open the possibility of something like this happening