My mom picked this plant up for me thinking it was a Hobbit jade but I'm not completely sure.

It does look like Crassula ovata trying to fasciate into... something, or reverting from fasciated, cultivar-ish foliage to regular, flat leaves. Never heard of that happening with an individual C. ovata plant, but many sports/chimeras do this, generally.

There is a good side by side view of Hobbit and Gollum, two monstrose Crassula ovata cultivars, linked to this page (see 2nd image):

https://www.smgrowers.com/prod...

And a few more cultivars with similar features are mentioned here

http://www.crassulaceae.ch/upl...

But I think your plant is probably Hobbit, based on the pictures. I have no experience with any of these plants other than Gollum, which your plant definitely is not.

If those are 2 separate cultivars, I'm not advocating one or the other. Just agree that there is some departure from the shape of a regular species C. ovata plant. No way to know from a snapshot in time if it is developing or reverting.