it’s budding out a lot at those lower levels. is it budding as much up above at the branch tips? budding out below an injury or peeling section and not so much above (in other fruit trees, i don’t have much
experience with pomegranate) can be a sign of disease that will eventually kill the top of the tree. i’ve seen trees regrow from below and be fine, and also crash and not come back in that situation. not sure what makes the difference.