Trees, Shrubs and Conifers: Can I salvage this Cork-bark Fir ?, 1 by Pistil

Pistil wrote:
4 1/2 years ago I planted this compact Arizona Cork Fir - Abies lasiocarpa 'compacta' next to a hedge of Photinia that I hated. My plan being to let it get established for a few years, then rip out the hedge and let the tree grow fast. I watered it for the first few years, but this last summer I neglected it, then in August noticed it was dried out and had lost it's leader. I watered it then, and it's alive, barely. The other things I planted there are doing fine, including a Ceanothus 'Victoria', Ribes aureum, Cotinus 'Golden Spirit', and Choisya ternata. The hedge is coming out now. Is this worth salvaging? I guess I could stake a side branch and turn it into a new leader. I planted this before I knew much, and so it might have been rootbound, It's on a dry slope, clay and rubble. I intend ultimately to neglect the area, which means summer drought, but only once things are well established.
Thanks in advance for your advice.