tweake:
i wondered about that but a lot of rinnai tanks are setup like that with tpr on the side as they only have a single top outlet. personally i prefer it on top as its easier to bleed the air out of it.
I'm not sure the previous tank even had a TPR, just a T-junction where the hot water came out the top of the HWC, feed to the house at the left, vent straight up. If there was something it was further up the line where you couldn't see it.