Hi. Rick, and if you don’t mind my opinion, this is what I see.
It appears the owner of this dwelling was concerned with exposed concrete above grade with the thermal bridging it provides to the interior.
Other than the fact exposed styrofoam products at the exterior is ugly and not aesthetically pleasing, there is not much wrong with it.
The UV rays will eventually break it down and look even worse over time.
Some stryrofoam is treated for insects and termites.
In the last picture, my concern is the installation which shows a ledge is created at the bottom of the vertical siding and providing access to water infiltration at that area.
Looks like they tried to seal it but you can see the aging of the insulation and it’s reduction in size which is pulling away from the sealant and letting water in.
There is one area that is freshly broken and exposing it’s interior color of blue which would indicate it might be a blue board insulation by Dow Chemical.
This product, although only available in Canada, has a finished skin on it so it can remain exposed.
Showing you this one for illistration purposes only.
Should foam insulation above grade be protected?
Foam above grade must be protected from both sun and physical damage. Ultraviolet light degrades or destroys most foams. In addition, damage from lawnmowers, balls, and other incidental
contact can degrade the appearance and performance of the foam. Common materials used to protect the foam above grade include two- or three-layer stucco finishes, brush-on elastomeric or
cementitious finishes, vertical vinyl siding, cement board, aluminum coil stock, and fiberglass panels.
Hope this helps a little.