Aside from its bottom part looking like a dragon, it's also based on the dragon tree, a group of plants that includes several species of palm trees.
Usually if a Pokemon has a typing that seems to make no sense, it's because what it's based on has a nickname relating to the type or it's name has a different meaning in Japanese.
The same happened with Ampharos becoming Electric/Dragon. I think it's Japanese name includes the word for dragon or something like that.
Exeggutor, looks like a skinny palm tree and is grass/dragon dual type.
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As stated, Exeggutor's Alola Form is based on the Dragon Palm in most cases. And it being the way it is now, makes more sense. It was supposed to be based on palm tree and it was a fat palm tree, which is the main reason I have always hated it. Now I like much more because it looks like it is supposed to look.
I'm wondering if the forms will come back once gen 7 is done.