At 00:28.828, a human could tell that an accident is imminent -- the oncoming car will violate the median should it not apply immediate corrective action. However, other drivers are not obligated to wait until the aggressor vehicle crosses the median to take evasive action! Indeed, the silver vehicle (ahead of the dashcam'd vehicle) begins decisive and correct evasive action at 00:28.328. That vehicle maintains the same steering angle and at 00:29.295 crosses the solid white shoulder/"fog" line -- it's unambiguously an evasive action and absolutely not a normal lane change.
The autonomous vehicle only begins to brake/turn at 00:30.130 (the first frame where the car begins to pitch forwards due to the weight transfer). The autonomous vehicle has begun to take evasive action a full 1.8 seconds later than the silver non-autonomous vehicle. Awkwardly, the Tesla's reaction seems to be triggered not by the median-violating vehicle but by the white vehicle (who is attempting to take evasive action) cutting it off. Worse, the silver vehicle is already crossing the shoulder line a full second before the Tesla begins to brake/turn. This isn't even commensurate with human performance -- the two human drivers visible in the dashcam video react significantly earlier than the autonomous vehicle.
It's absolutely possible to make vehicles that respond quicker and more effectively to impending collisions than humans do. Sensing with radar and IR can give autonomous vehicles information that human eyes simply can't detect -- IR is useful for detecting human presence, for example, and radar can be used to detect positions of cars beyond-line-of-sight. Better sensing translates to earlier warning. Also, when the computer has full control authority over individual wheel torques there's a whole new range of operating regimes that get opened up -- and autonomous vehicles that exploit those have the potential to make cars much safer (see research like http://news.stanford.edu/2015/10/20/marty-autonomous-delorea...). This sort of tactic can use the tyre grip to the absolute limit can let the computers craft the optimal (given constraints such as the vehicle's position, surrounding vehicles/barriers, and tyre/road conditions) trajectory out of a collision and execute it with precise per-wheel torque control (via the ABS/ESC system) and high-speed steering input. Even the best drift drivers don't have that level of control authority over their cars!
There's lots of room to make autonomous vehicles safer than human drivers but this video is a demonstration that autonomous vehicles can be a lot worse than human drivers.