Ok, I'm just going to come out and say, I'm a licensed human driver and a bicyclist, and I find track stands confusing too. Like a skateboarder in the bike lane, there's a lot of potential for unexpected motion, and that needs to be accounted for.
The bicyclist is wobbling in place, but could easily transition to going forward or backwards without warning. The bicyclist is intent on the stand, so drivers won't be able to gain eye contact.
I think the cloud of uncertainty around bicyclists is also why cars wrongly yield to my bike so often at stop signs. Some bicyclists do unpredictable things, and drivers incorporate that into their mental models.
People learn, and I'm confident that self-driving cars will too. Eventually.