NM-B is not allowed outdoors (in “wet locations”) [0], and running your Ethernet cable and your power in the same conduit is no good. (Look up the code for feeders supplying structures — this is not even close to how it’s done. Maybe you can squeak by and consider this a structure supplied by a branch circuit, but there are still code requirements to pay attention to.)

Also, that weather resistant barrier…. Imagine you are a drop of rainwater on the outside of that WRB, following gravity. Where do you go? Straight to the exposed OSB sticking out at the bottom. The sheathing is toast in heavy rain.

[0] NM-B has paper running through it. Good old-fashioned water-wicking brown paper. If it gets a bit wet in a flooded conduit (hint: every outdoor conduit can be assumed to flood eventually), it will wick along the cable and never dry.

edit: there is absolutely no requirement that buried conduit be metal. In my experience, despite code allowing various types of galvanized steel conduit to be buried, they tend to corrode severely long before whatever wires are in them are safely disconnected, creating a hazardous situation. You can use PVC, HDPE, etc.