I think by themselves, the elements are very beautiful. The great age and the strength of the bonsai's trunk are impressive.
Somehow, the composition doesn't quite work for me. I think it might be a matter of scale, and the size of the tokonoma. I wonder if the artist had any control over the size of the tokonoma he or she had to work with. Things seem rather cramped: there isn't enough void space to evoke openness and the illusion of perspective.
I think this composition could work in a much larger tokonoma, but again, I don't know whether the artist had any control over this. If the artist were assigned the space, I think it might be possible to use the same scroll, but use much smaller bonsai and kusamono (or perhaps a suiseki instead) to make better use of the smaller size of the tokonoma. It might also be possible to display the same bonsai in this smaller space with only one other element (I'd go with the scroll for the height it would lend the composition).