Replacing and old switch
In cables, the different wire colors distinguish wires.  They do not color code by function, except by accident.  

In this case, the accident worked out.  White is neutral.  Black is always-hot.  Red is switched-hot to the lamp.   

It's unusual because in this case, the cable from switch to lamp is serving a double purpose.  It is taking switched-hot to the lamp, and then, it is carrying always-hot power onward to other appliances e.g. Lamps.  



You may be confusing neutral and ground.  Older houses don't have ground. They always had neutral or lights wouldn't work!  

It doesn't appear there is any ground in the box, unless you see some ground wires tucked back there.  



If you have a powered switch that does not need neutral or ground, beware, it may not play well with non-incandescent bulbs.  

If you have a powered switch that doesn't need neutral, beware, some of them need ground because they are using it as a bootlegged current return (UL would list such products if current was very small, but that is coming to an end). These won't work without proper grounding back to the panel.