Cop is definitely in the wrong, but I also can't help but criticize the guy standing in the road. This is precisely why you shouldn't stand in the road; because drivers like Officer Dumbass here are pretty common.
He wasn't "standing in the road." He was stopped, on his bike, at the intersection waiting for his turn. That is not only the correct thing to do, it is required.
ETA: He was also in his lane, which the cop illegally crossed into making his turn.