Yup, it's a spinning wheel. It looks (to this beginner) like all the main parts are there. Does the drive wheel (the big wheel) spin? If so, does it wobble, when it spins? You might have to look up the anatomy of a spinning wheel, too get familiar with all the parts, and how they work. Another thing that helped me immensely, was looking up my
local fiber guild - they're an incredible resource! They also have a huge advantage over us - you can actually take the when to them, to get a more solid assessment, figure out what it needs, to get back into working shape - and teach you how to use it.