Definitely not too far gone. Start with Proofide...One coat all over and another application to the bottom side over the course of a couple days. If it still seem dry, give it another coat. That should bring back the flexibility of the leather. It really doesn't look too mis-shapen at this point, however I have re-shaped seriously dry/warped saddles by soaking briefly (maybe 5 minutes) in hot water, then re-forming the leather to the proper shape and letting it dry slowly. Use some blocking material to help form the shape while it drys. I surprised myself how easy and well it worked.