For bonsai.... of course. But for penjing... not particularly. And in truth the tree currently evokes the feeling of a penjing more than a bonsai in any case (for me at any rate).
You of course said the only thing that really matters..... you like it.
For that matter... with the way you set up the photo... I like it.
Looks like a very promising tree... have fun with it!
Yours most kindly,
Victrinia