LOL, gtd; had not seen it referred to as 'balding', but, I will agree - bark shedding is common on many species, with redbud being one of the notables. We have one venerable old (closing in on 20 yrs) redbud in the yard that has, in the last year or so, begun exfoliating pretty substantial sheets of outer bark.

The fact that you followed the recommendations for "root stimulation" definitely raises an eyebrow but you haven't got anything to lose by waiting. Redbud leaf buds can be inconspicuous and if it's too young to flower it might just look dead. Rather than the "scratch test" I prefer what I call the "snap test" and that is if you go to lightly bend branches, do they flex or do that snap and break off? I don't know that I'd wait a whole year... if it doesn't leaf out in by june, it's probably not going to. Avoid the place you bought it from but try it again. Find somewhere that has a return policy. Next time around don't use any root stimulator or fertilizer. And don't plant in the summer. Wait until fall.

Definitely not under-watering. I have a new pink heartbreaker that just did the same thing in late June, following 2+ months of consistent, heavy rainfall. Since the ground has dried out over the last three weeks, the curls are not as pronounced. The leaves have looked green and vigorous throughout. So my guess would be overwatering but not sure.

Well, that sounds right. Only thing I can quibble about is that might be a bit more water then this tree needs in the dormant season...but if that were the problem I would think it wouldn't have looked good when it first leafed out. High soil PH seems unlikely...I've never heard this tree listed as being especially picky about PH, and there are pines nearby...I'd think they would show signs of PH problems first. However, that one is easy to test...do a soil test. It will tell you the exact PH, and might help you figure out what precisely your pines need in the way of fertilizer while you are at it. Nitrogen burn is always a possibility.