Ok guys, for anyone who was interested itt and also for any future diyers: I'm proud to say that I fixed the darn thing and it only cost me CAD11 in silicone lubricant.
The red thing I highlighted in the OP suddenly came loose, so once I unscrewed it, the brass nut was exposed, so I wrenched it off after turning off the water. The cartridge came out easily, and I disassembled it, put the lube wherever and put it back together. Not sure about/how some of you guys destroyed your faucets doing this same process lol, maybe I'm just more delicate.
Anyway, tx everyone for your pointers.
__________________
The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation...It's bullsh*t. I create nothing. I own. We make the rules, pal...Now you're not naive enough to think we're living in a democracy, are you buddy?