Yes, the cars appear to be waiting on the red light and not in a jam. Google maps shows 14 min by car and 28 min by transit between SE 42nd Ave and Powell Blvd to the Pioneer Courthouse Square. I imagine there might be times when car traffic is impeded to the point it takes 60 mins, but Portland buses with dedicated lanes are not everywhere, they have the same problem as trains: the routes are limited and getting around Portland on transit is extremely slow in general.