WA state also mandates IMC, RGS or PVC for services, no SE cable is allowed. EMT cannot be used for unfused conductors inside building lines. When I first saw SE cable being used in a trip I took to VA, I was blown away. It seemed odd that they actually ran cable exposed down the outside of a house. Still does seem odd to me, probably because I'm not used to seeing it.
As for the picture in the OP, why not run out the back of the meter straight into the wall and then into the service panel? That way the SE cable isn't exposed to the outside. That makes the most sense to me.