For me, blue car was faster at the end, it has a better line, and red car was going too wide in the right curve, making it in a bad position to take the last left turn, so for me the blue car was supposed to win anyway.
I think blue car wanted to take advantage of the situation, maybe a better move would have been to lift the throttle a little bit, and wait for the red car to make the turn (slower), and overtake on the left ?
Anyway, not a big deal, no big ramming, just quite intense action, and anyway the red car was probably not going to make it first, considering the big speed gap. Also, blue car seems to give some rooms to other cars between 0:18 & 0:28, doesn't look like a rammer.