I can't tell what is going on here, but it doesn't look normal. What kind of fern is this? I hesitate to comment, but it may be a viral infection which often causes mutation. It's normally brought about by prolonged wet & cold conditions. It could also have a fungus issue (the fluff). Perhaps this isn't a suitable position for it. I think it's beyond help. I wouldn't even put this in the compost heap. It's hideous. Just bag it and bin it.

Is it a tree fern? This is probably natural, lots of ferns have this rusty coloured fibrous root looking stuff around the base, but it could be a bracken type which has seeded itself here. If you Google tree fern logs or something similar and then compare photo's.

New question posted with "on plant Dicksonia antarctica" above, if that helps any. I don't grow it myself, but when I saw it in Seattle, the fuzziness was natural, though the asymmetric growth was not.

Mine have the fluff, but why the reduced number of fronds is a mystery. Could it be because the old fronds were trimmed so much that it weakened it?

Maybe the top shrunk due to winter weather.

A "slow water" might be possible if normal watering just runs off.
If you can get a hose to it - carefully ease the end of the hose into any small gap in the crown (you may have to somehow tie/strap the hose gently around its trunk, to stop it falling out of the crown) and just have a gentle trickle flow into the crown for as long as you want.
Or with a can - maybe carefully ease a funnel into the crown and water it slowly through that?

If it keeps healthy and produces more fronds next time, maybe the crown will broaden out in the future.