I did not know that an EMT coupling fit on PVC!
That said, the EMT cplg on PVC is not an approved use of an EMT cplg. The clamp on the rebar looks like a pipe clamp, and not an approved connector. The stub-up rebar is not acceptable here. Our POCO would not accept the meter recessed within the wall, nor would they accept the unmetered service conductors within the wall.
I guess that padding out the wall to 2x6 framing would not have been an option?
That semi-flush panel is the norm in CA, & stubbing out the rebar is also normal here. The use of that coupling is why I took the picture & posted it don't like it as one can see the meter was set so it was inspected & "passed" inspection. BTW at the time of this post the HVAC installers & the plumbers at work, as soon as they start the rough wiring there should be more doozy's to come...
Edit: The houses are prob. going to be stucco, so styrofoam is usually used so they use 2X4 const. instead of 2X6's.