I have this in a project's code, but I dont understand it:

const values = {
  value1: 30,
  value2: 60
}

let {
  value1: red,
  value2: blue
} = values;

console.log(red);

In the second part I tought that value1 was being declared as a variable but it seems that is the oposite, red gets 30 (value1) ¿? Why is 'red' receiving value1?