The muffler hose spud diameter is larger than the installed exhaust hose. Either the muffler is too large for the engine or the exhaust hose is too small for the engine.
The hose-in-hose sealing lacks the strength against coming off the spud. All of the excess sealant is an attempt to seal an inherently weak connection.
Tightening the clamps to obtain a seal distorts the hose and creates leak paths.
In the event of loss of cooling water, the hoses will blister, char, and harden. Without being mated to a proper spud, the hose-in-hose joint will lose before the rest of the system.
The hose-in-hose connection lacks the mechanical strength to resist loads that may be imposed by shifting gear, personnel moving around in a compartment, etc.
The clamps are not marine grade; rusty screws indicate they're not 304 or 316 stainless steel. The hose connections are not double clamped (not that two clamps would improve anything). And, the short lengths of hose did not show labeling that they were for Marine Wet Exhaust.