>>1892684two tiny fucking holes for that huge container is not enough. you should have a hole like that for about every 5 square inches of the bottom.
and the SOIL ITSELF also has to be well draining otherwise it still retains too much water and give you root rot.
that's way too fucking much mulch, you should do like 1-2 inches.
also get something with bigger size than that stuff you mentioned so air can penetrate down easier. and no need for premium meme mulch, just get some bulk bark mulch (as long as it's not from a fucking dump and contaminated).