It looks like it’s had some root death, but most of those that I’ve repotted from this peat mix look similar. I’d pot it up without doing more to it. If it seems to wobble a bit, I put in a wood stake and use a twist tie to secure it to a pseudobulb to keep the plant stable.
I’ve found this particular plant to be super resilient. Mine got quite a bit of cold damage at a couple points, and was pulled out of the pot and partially devoured by the cats, but it keeps growing and pushing out flowers. I think yours will be fine in the long run, but it may take a bit of tome to recover and regrow its roots.
The only way I’ve managed to save healthy roots in this media is buying a plant that has just arrived at the store and repotting as soon as I get it home.
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