Here's what I don't like about these threads. We look at an ugly but code compliant installation (perhaps the SER needs to be neatened up a bit) and start ripping it apart. Yes, it looks awful.
But some questions need to be asked: Were any of us there at the install? Did anybody here bid on it? The point I'm trying to make is that we don't know the circumstances of why this happened. The building itself looks pretty crummy and I highly doubt the owners were willing to pay big bucks to get a first class electrical job. So this is the end result. It's always easier to say "what if they did it that way" when it's someone else's money.