Judging by the new growth, it does not look grafted. There are variations of E. milii (i.e. tenusipina) that are caudiciform, although not very common in retail stores. Where did you get it from?

I didnt. I saw it online. But no, i didnt know that there were caudiciform....forms. Or variations or subspecies etc. As far as i (knew) e. millii didnt have caudexes...

Maybe some pachycaul types with swollen trunks, but not proper caudexes.

I'm assuming most E. milii plants sold in stores are rooted cuttings rather than seed grown, which is probably why people dont know they can be caudex plants. I have an E. milii var roseana that's supposed to have a caudex, too, but it's pretty small and not much to look at right now...