No, the flashing red is not analogous to the yellow for cars.
Yellow is legally defined as “clear the intersection”…not hurry through…Red lights mean “do not enter the intersection” (technically, that does mean that you don’t have to actually stop at a red light at a red/yellow/green lit intersection, just do not enter the intersection.)
Flashing red means “do not start crossing”…that way no new pedestrians enter the cross-walk, pedestrians already crossing finish their cross, and thus giving the cars (who are waiting to turn) a chance to actually turn before the cross-traffic gets their green light and blocks the intersection.
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