In fact, it could be fun. I have driven in Cairo several times, and have also been in the front seat of taxis and private cars. Apart from the odd moment when something I did not expect actually happened, I felt reasonably safe both as a driver and passenger. Once I got the hang of it, it was fun. These incidents usually involved novices who could not control their cars even at slow motion.
Car insurance is a requirement in Egypt, but many drivers drive without.
This may change soon, as the government is planning tough measures to control bad driving habits and also protect the environment from old obsolete cars. There is a kind of common understanding amongst drivers in Cairo. They all seem to agree that there is no lane discipline, and no rules for pedestrians. Traffic lights are optional when a warden waves you on, and double parking is no offense. Horns are used at all occasions, and are not meant to anger anybody.