First: that tree is awfully close to it.
Second: the wires are going into a metal conduit that has no weather head. It’s a little hard to see… look there the lines go in to the vertical tube.
Rain can get directly into that tube. Rain and electric wires is not a good combination.
or it can be a bigger, plastic cone above the service line entrance. As long as water is directed away from the service line conduit, the job is done.