Should I say goodbye to phalenopsis with white threads, rot and or shriveled up roots

[Alearner]

Hi,

Thank you so much for your links to diseases and cures of orchids.

I am a complete novice to growing orchid.

I purchased my first beautiful looking phalenopsis from a supermarket on 1 Feb 2022. It has two stems with blooms and was contained in a pot with bark. Today, I noticed white threads appearing at the base near whatever that remained of the roots. Should I say goodbye to it?

Here is the history of what I have done to the plant:

7 Feb 2022: Bottom leave of the orchid started turning yellow. Removing the bark I saw roots all coiled up at the bottom.

Intending to give it proper ventilation and humidity, I removed it from the pot, and put it into a larger pot (with more holes) which I have lined with spagnum moss.

Late Feb 2022: More yellow leaves which fell off.

Also, 90% of the roots have shriveled and dried up so much I could see a thin vein running through empty tube (root). Color of roots was straw like. Remaining 10% of the roots have dark spots and appeared limp.

Also noticed flowers appearing on one of the stems started falling off one by one, while other stem seemed fine.

I cut away rot root and not much left of the root stub. May be 1-2 inches long of shriveled root remained. Instead of using the pot with moss, I placed the moss over a piece of tree bark (over which I have poured boiling water to kill off any diseases it may carry), and rest plant on top and tied it around the bark and started watering much less.

14 April 2022: flowers on remaining stem dried up.

Also, after unwrapping plant from the board and moss, I noticed white threads appearing near base where the dried up roots were. No new root growth observed.

Any comments would be most appreciated and most helpful to my next attempt!