Newly acquired Miltassia Shelob Tolkien need serious help

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first of all, please excuse me if the name is wrong since I got it off the internet, the only name that came with the plant is Oncidium. I purchased this plant today because it was the only one of it's kind in the store shelve and I love how the blossom looks, and I overlooked a few things.

shriveled pseudobulbs, crooked growth, damaged blossoms, split leaves. The plant sits in a 3 1/2 inch plastic pot w/slits inside a 4 inches ceramic pot. The media was extremely dry and the first thing I did when I got it home was watering it. Here are a few photos, do you think this plant is too far gone?



I'm not sure when I should repot, nor the kind of media it requires. This is by far the coolest looking orchid in my collection, please help me bring it back to health.
Lastly I added a picture of the blossoms close up to confirm it's identity.


thank you very much for your time.