I watched this on youtube. There is a link to another video of a newscast which reported the officer was suspended.
https://www.youtube.com/watch?v=UTHrORM62Rk
Notice the first words out of the officer's mouth were "How you doing" not "Hands-up" or "Freeze." Also notice the first thing the officer wanted was for the man to reach into a pocket to produce an ID. If the officer truly felt threatened he would be ordering the man to get on the ground where he could be frisked. And he would have ordered the man to absolutely avoid any actions such as reaching into a pocket where a weapon might be hidden. Together that shows the officer did not actually feel threatened and had no basis for drawing his service pistol.