If your boat is like ours, which I assume it is......
On the skeg is a sintered bronze plate which is the ground for the SSB radio.
The wire from that should end up in the nav station area and only be connected to the ground connection on the SSB..
This cable often has BLU written on it.
This cable is only connected to the bonding system if there is no SSB.
If you have an SSB connected to this cable, there should not be a connection from this cable to the bonding system.
The bonding system is all the wires from metal items in connection with seawater connected together and eventually connected to the rudder shaft which is connected to the anodes on the rudder.
So if you don't have an SSB, it seems correct.
If you do, it isn't.