As a pot plant and the sad condition it is in, your onc. probably is not worth saving. However, if your interest in orchids remains, someday you may find a very nice oncidium that may be worth saving. For that reason, give it a shot and try to save this one. What have you got to loose? And think of the experience you will have gained, whether it survives or not.
As long as it has a green growth and several pseudobulbs, it is salvageable, even if it has no roots. It will not be easy for you but give it a try.
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