Flexible water heater vent pipe

Found this vent pipe exhausting a 2003 Kenmore natural gas water heater. Does this flex tubing look acceptable?

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  1. In using Model DWC, overall considerations should be given to the
    following:
    a) Make short straight runs where possible.
    b) Make no unnecessary bends.
    c) Make no bends greater than 90 degrees.
    d) Make bends as smooth as possible with no dips or sags.
    e) Install with at least a 1/4” per foot (20mm/m) rise.

You got to love the pipe sloping down before it goes up.

No…