That's a really vertical microcode. It looks more like a specialized assembly than microcode. I guess it makes sense, since the algorithms are so complex and executing one microinstruction per cycle (is that correct?) already provides almost an order of magnitude performance improvement.

Yes, it's one microinstruction per cycle, except there is a 1-cycle delay for branches, adds, and shifts. And some micro-instructions loop, so they can take a bunch of cycles.