I recently did the same and all seems well. Having lost blooming phals in poor medium waiting for the flower to finish I now repot asap after purchase.
However, this is only if bought from a cheapy garden centre/supermarket. In the UK they seem to keep the spag on them from the seedling stage and it ends up getting a very wet centre and lots of rot issues.
If I buy from a orchid grower they have it in good stuff to start with.
My new mantra is the health of a plant that will last decades is more important than pretty flowers that last months. So, if it is in danger....repot and accept whatever happens.
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