In this case it solely for artistic/appearence reasons and appears to be a very short run. I'm guessing since it isn't in the photo but I'd bet there is a j-box at the end of the "straight" section of the run. (just out of the photo to the left upper corner)
Yeah I would give it a pass on the 360 degree bend rule unless I determined that it was at the end of a homerun with no junction within 20' or so.....
