You have 2 neutrals under one lug there. Pic #1. I believe that is wrong. The service conductors have a very thin insulation, while the feeders to the 125 amp device have a thick insulation. Those feeders are likely Aluminum, and there is an Al black wire taped with white in Pic 1. In my area (country), the branch circuit neutrals are not brought back to join the service neutrals. They would be attached with big lug connectors to the neutral bus. I see the wire taped with green going to the neutral/ground bus. If that is the ground, where is the service neutral? It must be one of those smaller whites that are doubled up. Sorry, I'm just describing what I see there. The main breaker should protect the service if the load goes over 200 A, I would think? Because we don't know what the actual loads are on those other breakers, we just have the defer it to an electrician if there is a suspicion of amateur work. I would call for an electrician to check that installation. There are a lot of wire nuts in there. The panel appears to be a replacement. Some jackets were not stripped back completely, and that is the mark of an amateur. JMO. I'm not sure if any of the above is an actual code violation.