It looks like they got it "almost right". The feed does indeed appear to be the grey PVC just visible in back of the casing, and the supply wires look to be a good 18 inches long. But... the wire is probably type TW submersible pump wire - is that listed for direct burial? It looks like that's what is coming up from the PVC riser. It should be UF. One of the most common code violations found in these installations is that the splices are made inside the well casing. I sort of doubt that the casing is a listed junction box. If they did it correctly they would have a PVC box in the riser to make the splices and transition from UF to TW there. The other bogus thing I run across a lot is failure to bond metal casings. Also, where I am many wells are 300 - 500 feet deep and as much as 300 feet from the house. Of course no one thinks to account for the resistance of the conductors. I am surprised that pumps don't fail more often.