The red text seems to be closer than the other text. As if it were floating above the other text.

I get that a lot with default terminal colors - on black background, dark blue and dark red look shifted in opposite directions relative to baseline (white/light colors); when both colors are used in close proximity, it gives me a strong and quite distracting 3D effect.

I always thought this is specific to that color combination (red and blue on black) and LCDs, thus is perceivable by anyone, and could be used to create intentional 3D effects; I never considered glasses may be a factor too.