That looks like more than damage due to damp. I would guess severe cold or heat damage combined with damp. I think survival will depend on the conditions of the roots and canes which aren’t really visible. I’d probably be asking for a refund or replacement if it were mine.
Tough call. I've had Den's recover from that far gone - usually because they happen to put out a new cane around the same time. Pot it, and keep it in perfect conditions, and you might get lucky. It will be years before it looks like a normal orchid again. Get yer money back!