In a good working state the monoshock should give at least an equal ride to a twinshock. If if feels like a pogostick it is probebly broken.
The problem is probebly that the oil of te demper is not of te write type or it is leaking internaly. In that case disassembeling and cleaning the shocker might make a difference. It could also be leaking externaly, in that case the oil is all gone.
In- and outgoing demping can be adjusted by putting other resistor plates (I do not know the wright english term) in, so you can always set the bike up. The plates should be specialy made by a specialist I fear.