It will need to be adjusted and cleaned extensively. You'll need to get at least a 90% isopropyl alcohol, a bunch of q-tips or similar type of cleaner, and a good grease and light oil for it.
The cam is one of the main culprits with these tables and underneath the cam is an almost spring type metal that helps with cycling. I'd unplug the table, plug it in, and try to cycle the table again, or manually try to do it unplugged. There may have been damage in shipping with the bearing and bracket as well. But it looks like a cycling issue to me. Although I am not a professional. You could also try spraying deoxit in the arm and under the arm to see if maybe there is something caked up causing it to stick. And for what you paid on the table, I would ask for shipping plus $75.00 back. Then it would be worth redoing it through a tech.
On 1 of the 1019's I redid, I had a similar issue and was ready to destroy the table due to anger, but read more and got help from vinylengine and Klaus. Little by little I got it back up and running. At one point the issue was similar to yours, it would pick up then drop back down and shut off. That's a cycling issue. I use Alvania grease on mine with light sewing machine oil, but others use different greases.