Sure it does if you’re in a cross walk. As a driver of a vehicle, you should be yielding to those as per their right of way and paying attention to anyone who might or might not take their right of way.
In practice: cyclist head down looking at their mobile phone swerving all over the road, two hands holding the phone to be able to text using whatsapp or whatever other IM they are using entirely lost situational awareness. I've seen enough accidents from this by now to become an advocate for substantially increased fines for cell phone use in traffic.
