On russian sites pine bark without any additives mention as very good or even the best substratum for orchids. For them, and my experience it works great, no problems.
But what do you think about this?
There are some orchids, for example Neofinetia falcata, where it is preferred to use sphagnum moss. But that preference is human. These Neosf. can be found in the wilds of Japan (if that is still possible) growing on rock outcrops, on top of trees, etc.