Such situations are pretty common, as Singapore is awash with cars, but limited parking lots.
In the video, such a situation could had been avoided, but each, for their own many & varied reasons, prefers to wait for the one who blinks. Such responses are stupid as the time & effort could had been better used to find another lot or other peaceful constructive forms of resolution to issues. Why spoil a beautiful day with foolish fights with others over pride & ego?
A better solution would be for both to agree to let FATE determine that lot if such lot is so precious - by flipping a coin - heads you win & I lose.
With ability to afford a car which means they do have brains to work out the sums, & yet ....guess they had simply lost their mind momentarily, clouded by emotions....