Welcome to the forums! As far as this tree goes, I've seen worse.
Plus, it's a Chinese Elm which means fast results, pretty forgiving, and lots of options. You could air-layer it a couple of times and end up with three trees that all have more potential than the tree as it currently exists... and that's a GOOD thing!
So the first thing we always recommend is to join a club (if you live near one) because nothing beats first-hand experience. You won't know how much you'll benefit until after you join a club
As far as this tree goes right now, ignore it for a minute and pull out your bonsai books, or look at online bonsai sites, and find two or three photos of AMAZING chinese elm bonsai that really impress you... and print them out. Now sit and study the photos, and try to define what it is about the photos that you like, and what you would have to do to get your tree to look more like the trees in the photos.
There is a looooooooong list of things that you will eventually learn to look at automatically when you look at bonsai - but the key principle is this: start at the soil and work your way up the tree. The lower on the tree you look, the more important it is to the finished bonsai, the longer it takes to develop, and the harder it is to fix.
The section of the tree where it meets the soil is called the "nebari" and it includes the roots and the base of the trunk. Does the tree grasp the soil with gnarly old roots (like an old tree), or does the trunk disappear straight into the soil without any visible roots (like a sapling). Does the trunk have an interesting line that has character, but still looks natural? Is the trunk thick at the nebari, with nice taper as you move up the trunk? Are the branches well-placed and not too thick? Are the branches themselves well-developed with nice even taper and ramification?
There are many more suggestions like this - but the most important question to ask yourself: does this look like an old tree from nature? Does it look "natural" like an old tree on the mountain growing for hundreds of years? Or does it look fake, like someone has bent a tree randomly to make it look unusual - but it does not look like something you would see in nature.