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The plant has potential, but needs some basic correction. As a bonsai, the reverse taper is very notable and should be corrected. You would do that by getting the tree healthy & growing well, then cutting it back hard to force back-budding low on the trunk. Select 1 new leader from whatever breaks, & chop the plant back to just above that leader & go from there.

Alternately, you could layer off the top just below where all the existing branching occurs - if you favor a multi-trunked specimen.

Al

Thanks, Al! I knew something was off about the proportions, but it's nice to put a name to it. Forcing back budding sounds terrifying, but at least I have more experience with that than air-layering (I've never done it before).

I don't have any emotional attachment to this plant, I just thought it might be a mistake to throw it away since it already has a well developed trunk. Should I just toss it, since I'm a beginner?

Toss it? No - send it to me. ;-)

Al

Plants are very predictable, once you get to see how they respond to certain procedures. If you get your plant healthy & chop it back close to the ground, it will send out several new shoots - pick one on which to build your tree & remove the rest. No need to be terrified - it's a very common procedure for bonsai practitioners. Alternately, you can just cut the top of the tree back hard (early Jun) once it's growing well and buds SHOULD appear from the lower trunk. Less risky to the viability of the plant, but more risk a bud won't break where you need it. Or you can layer off the top & hope something breaks low on the trunk, so you get 2 plants from 1.

Healthy trees and young trees have a very strong will to live, and will tolerate a lot if their vitality level is high (they are growing well) and your timing is appropriate. Therein lies the key - making sure your tree is strong enough (has the energy reserves) to tolerate the indignity you intend to heap on it, and doing the heaping at the right time. ;-)

Al