The picture says it all - this installer had shares in the silicone manufacturing plant.

Linkback: https://www.plumbers.nz/dodgy-plumbing-or-great-plumbing/4/how-not-to-flash-a-hot-water-vent-pipe/2022/

nope... you can see half a bracket cut down to cover the hole, then silicone it all together, it was actually leaking, as was the dektite and soaker (you can see the rust)
it was a handyman who reroofed this one charged 13k for his efforts we were then hired  to redo the bulk of the flashings and tidy up - I loathe fixing FU's 

Added some more pictures so you get the general idea

yeh we redid all the soaker flashings, ripped the parapet flashings off and put a timber packer all the way around on the inside as they were made too wide and were rattling in the breeze. Put in a new chimney as the old one was had it and leaking inside.