I've knocked a rear wheel severely out of true due to uneven spoke tension from the factory. I did a bit of a nose stand, stepped off to the left and the rear wheel hit with the bike leaning over. It "looked" BAD!
I backed off all the spokes and retensioned it and it was FINE after that.
Is the metal stretched/kinked or just a smooth "wow". It might be salvageable if the latter.