There's more to it than that. The thing is, which is the point a lot of people fail to see, is that cyclist's actions skew the general public's opinion of all of us. It doesn't matter whether the single act of running a red light is safe or not it still has an impact on what the public thinks of cyclists in general. We are legitimate road users and if we want the general public to take us seriously as legitimate road users then we need to abide by the road laws. How many times have you heard the argument that "the road is for cars", "you don't pay road tax so you don't belong on the road", etc. Our argument isn't helped when a large portion of the cyclists openly flaunt the law.
As someone here already mentioned, if someone in a car does something silly in a car the reaction is "bloody dickhead". It's not a reflection on motorists, it's a reflection on that particular individual. That's not the case with cyclist, if one of us does something silly then the reaction is "bloody cyclists". I'd like to think that one day it will change and if a cyclist does something silly the reaction will just be "bloody idiot" but as long as a large portion of the cycling population continue to adhere to the road laws when it suits them then that day will be a long way away indeed. Once cyclists are viewed as legitimate road users then cycling on the road will be a much safer prospect.