Could the kraken monster from "Evolve" (the game) feasibly exist?

Question

"Evolve" is a game that revolves around two teams, the hunters and the monsters. The hunters job is to kill the monster and simply survive; the monsters job is to kill the hunters and survive. There are many hunters, each in there own categories, but there are only 5 monsters, with only 3 having playable variants.

One of these monsters is the kraken. Kraken is a bioelectric, Cthulhu-esque creature that uses two tentacle-like appendages on its back both as offensive weapons and as a means of floating above the ground for short periods of time. Its face has tentacles and mouth filled with teeth, also sporting four eyes. It has the ability to use electric-based attacks such as banshee mines, vortex, aftershock, and lighting strike.

What conditions are needed for the kraken to exist?

Answer 1

As it Stands, Infeasible

There's not just one or two problem with this thing existing. There are all the problems wit this thing existing. Let's just start this point by point.

Cephalopod

This isn't a cephalopod. I like the Cthullu mythos as much as the next person, but cephalopods have a few very specific traits, like not having bones. That means, for whatever reason, this is actually a mammal or reptile that has decided to evolve for no discernible reason to look like Cthullu. It makes no sense for this creature to have 'mouth tentacles' when it's primary means of offense seems to be lightning things to death. They'd only make sense if this was vestigial, but since this isn't a cephalopod-based, no Cthullu beard.

Flying

According to the (self-proclaimed) Official Evolve Wiki, it can hover indefinitely. It doesn't say how, so I'm going to assume that it was through using lightning, judging from the tentacles. Now, while that makes no sense, maybe it's using magnetics and flying by repulsing the magnetic field of the planet it's on. Except... that can't work either, take a look at this question. Take a look at the second answer, the short of it is that we need a diamagnetic field the size of the planet's magnetic field.

Offensive Abilities

I mean, of this thing's attacks, the only relatively feasible one is Aftershock, which seems to be some kind of area-of-effect electricity attack. Banshee Mines act like sticky grenades from Halo, which aren't terrible, all things considered, it's feasible for an organism to produce to be able to produce explosive material and then somehow put a timer in it. It just seems like something which is theoretically possible but too complicated of a process to be evolved without repeatedly killing the animal in the process. The bad ones are Vortex, which projects a wall of 'elemental energy', which sounds more like a spell in D&D, and Lightning Strike which doesn't strike from the Kraken, it strikes from the sky where the Kraken isn't, somehow.

Size & Energy

Last one. It's a kaiju, basically, like all creatures in Evolve, and thus because of our helpful friend the square-cube law, it basically shouldn't be able to have anything resembling a human bone structure which it does. An armored exoskeleton, like the Goliath appears to have would be helpful, but the exterior is clearly this scaly/leathery thing. Not to mention that the energy needed would be absolutely nightmare-ish, especially considering that this thing appears to have the energy to chuck around lightning bolts, which is an average 1 billion joules of energy. Compare to a human body's 340 million joules. In other words, each bolt would require 3 humans to be consumed.

What is Feasible

Well... let's say a creature evolved in an environment full of powerful natural magnets, and a world that had frequent storms full of lightning strikes. Let's also give it some naturally occurring pools of electricity-rich liquid, maybe a giant salty lake with copper & zinc disks in it. It's possible to evolve a creature powered by electricity, which has harnessed the power of a magnetic field to bounce around the magnetic-field rich environment. Maybe it can also absorb lightning bolts directly for energy, and has some form of an organic battery inside itself to be used against predators or for stunning prey. It's reptilian in nature, and it's mouth is reminiscent of an Elite from Halo, with separate jaw bones instead of a single jaw. That is the closest I think you could get to the Kraken.

Answer 2

There is something close to this: the giant squid. These exist deep inside the oceans and scientists believe that documents showing the Kraken are actually talking about a giant squid. The bio-electric part of this is confusing, but it could be solved by making it exist in a lab or be an escaped experiment, or just an experiment trial.

Answer 3

The Kraken is not from our time-space continuum.

It is a monster with inherent contradictions in size, anatomy and mode of propulsion if considered strictly from a terrestrial frame of reference. A fair number of Lovecraftian monsters were like this. At the Mountains of Madness refers to two races of weird things as contrasted with the relatively normal crinoid-like Old Ones.

At the Mountains of Madness

It was curious to note from the pictured battles that both the Cthulhu spawn and the Mi-Go seem to have been composed of matter more widely different from that which we know than was the substance of the Old Ones. They were able to undergo transformations and reintegrations impossible for their adversaries, and seem therefore to have originally come from even remoter gulfs of cosmic space. The Old Ones, but for their abnormal toughness and peculiar vital properties, were strictly material, and must have had their absolute origin within the known space-time continuum; whereas the first sources of the other beings can only be guessed at with bated breath.

Cthulhu itself is made of weird stuff - a phantasm or projection or cloud. It looks solid and can seize humans, but it is not solid.

The Call of Cthulhu

There was a mighty eddying and foaming in the noisome brine, and as the steam mounted higher and higher the brave Norwegian drove his vessel head on against the pursuing jelly which rose above the unclean froth like the stern of a daemon galleon. The awful squid-head with writhing feelers came nearly up to the bowsprit of the sturdy yacht, but Johansen drove on relentlessly. There was a bursting as of an exploding bladder, a slushy nastiness as of a cloven sunfish, a stench as of a thousand opened graves, and a sound that the chronicler would not put on paper. For an instant the ship was befouled by an acrid and blinding green cloud, and then there was only a venomous seething astern; where—God in heaven!—the scattered plasticity of that nameless sky-spawn was nebulously recombining in its hateful original form, whilst its distance widened every second as the Alert gained impetus from its mounting steam.

Dude drove his boat through Cthulhu's head and out the other side.

The appearance of the Kraken (and other weird Lovecraftian monsters) might have to do with how it wants to be perceived, or how human brains make sense of unnatural geometries and spaces. These things have nothing in common with Earth life, and only partly inhabit the plane of reality where we live.