Poor thing, but wouldjalookatthatgrowth! Yay! I got an orchid via ebay several weeks ago and its pseudobulbs were quite wrinkled, and I was distressed to say the least. But, I replanted it and have watered it vigilantly and low and behold the wrinkles have faded and the bulbs have happily plumped back up! I tend to be an over-waterer anyway, but in this case it has helped, but I have put in a skewer to help too. I may have slightly overpotted it as well, but it is really thriving and the bulbs are plump and happy again.
Good luck in whatever you do, and I hope you'll post pictures as you keep caring for it, those new growths look like wrapped presents under the Christmas tree