When a Crassula pyramidalis stem or plant has flowered it dies, although new stems may grow from the plant base and flower later. In this photo it is unclear whether any new growth from the base has been started and will be forthcoming.
Still, the dry stem has remained erect, holding its old flower remains in position. Fruits may hide under the dry, blackish sepals. Their seeds are retained for the opportune moment of optimising successful germination (Vlok and Schutte-Vlok, 2015; Shearing and Van Heerden, 2008; Moriarty, 1997; iNaturalist).