There are some tailors here who might be able to give more detailed advice about whether to modify that or just scrap it, but my initial impression is that it's pretty bad. Made to measure, but using whose measurements, I wonder.
I think a skilled tailor could do a good job with it, but it's going to cost some money. If you paid for MTM and got that back, I'd ask for a refund. Nobody should have to put a couple of hundred in extra tailoring into a new MTM jacket.