Good eyes, John! FWIW, I was so focused on the bend I failed to notice the way the pipe was connected to the box :-(
I'm not sure about the "flush mounting" issue; there sure are a lot of lights mounted around here where the wire simply pokes through a hole in the wall; the space in the fixture is your only "box."
Being directly under the eave, as I was taught, would make this a "damp", rather than "wet" location. I was taught to imagine a 45 degree angle from the edge of the overhang to the wall or ground....inside this area was "damp." I can't document this "rule" though- maybe someone else can?
