What am I looking at here?

You share half your DNA with each parent. Sounds right.

You share less than a quarter with your grandparents. Sounds right (some luck involved on which DNA was passed two generations).

Your cousin shares 10%. Since your parent's siblings should share about 25% of their DNA, and their kids would be half that, then 10% for a first cousin seems right.

What am I missing? I'm not familiar with their process so may have misunderstood what's being shown.

Edit: oh, is it saying you share 20% with each grandmother, or is it the same 20%? The same grandmother? Your parent's had the same mother?