In a mixing bowl, combine graham cracker crumbs, ¼ cup sugar, and melted butter. Press the mixture into the bottom of a 9-inch pie dish to form the crust.
In another bowl, beat the cream cheese until smooth. Gradually add powdered sugar, vanilla pudding mix, and cold milk. Mix until well combined, then fold in the whipped topping.
Pour the cream cheese mixture over the crust and spread evenly. In a separate bowl, combine rhubarb, ½ cup sugar, and lemon juice. Spoon the rhubarb mixture over the cream cheese layer.
Chill the dessert in the refrigerator for at least 2 hours before serving.
Notes
For a sweeter dessert, adjust the sugar in the rhubarb topping to taste.