Yes, it's a Phalaenopsis. It is salvageable. The most important things to remember about them are that they are shade plants, they need lots of air at the roots at all times, they like warm temperatures, they do better in high humidity but healthy plants tolerate lower humidity, and they like plenty of water.
The two green roots are enough to keep it alive. The bumps above them are new roots the plant is trying to make. The lower part of the stem has roots that might be dead or might be alive. If this were a very healthy plant I would cut off the lower part of the stem, but this plant needs all the roots it can have. I wouldn't cut that stem now. The next time you repot, in a couple of years, that old part of the stem will probably be ready to be cut off.
Most people use orchid bark for these. Phals. need lots of air at the roots, so people usually use medium or large orchid bark. The stuff sold at big box hardware stores usually has too many small pieces of chaff and dust in it, which plugs up the air spaces. You can pick out the large to medium pieces and use the small stuff as mulch in your garden. If you can't get medium orchid bark of uniform size locally, you might be able to find clay balls (LECA) at a hydroponics shop. Both products work well. If you need to order something shipped to you, your plant will be fine for a while if you soak the roots in water for a couple of hours every day, then let it dry. People here who can't find potting medium locally like to order from
Kelley's Korner and from repotme.com. I use LECA but I'm in the minority. I looked at KK and I would use the general purpose mix, or plain medium fir bark. From repotme.com I would use Phalaenopsis Dark Classic or Phalaenopsis Monterey Dark.
When you have your medium, use a very small pot, perhaps 3" diameter. Set the plant in the pot and backfill with bark or LECA. The base of the bottom leaf should be at or just below the new level of the medium in the pot. It's best to use small pots for Phals., just big enough to stuff in all the roots.
Feel how much the pot weighs after you pot it. That is the dry weight. Now soak the pot and bark in a bowl of water for an hour or so, and feel it. That is the wet weight. Try to keep water out of the very center of the leaves. If some gets in there, blow it out with your breath, or use a piece of tissue.
Keep the plant in bright shade, no direct sun, in a warm spot. Water it before it gets completely dry. With new bark that might be every day or two. It takes bark a while to age enough to hold onto water. As long as there are good air spaces between the chunks, and the roots get plenty of air, they can stay moist without rotting.
Fertilize about once a week with 1/2 teaspoon of a powdered fertilizer per gallon of water. Any 20-20-20 with micronutrients will do. People use other fertilizers successfully, and there's nothing magic about them. 20-20-20 is easy to find, and you might already have some.
The plant will make new roots. They may go down into the bark, and they may wander out into the air. Both are fine. When you water get all of them wet.
The old leaves will lose some of the wrinkles, but might not go back to normal. New leaf growth will soon produce healthy leaves. I would not be surprised if this blooms next spring at the usual time. If it takes longer to recover, then certainly the spring after that.
Have a look here at a thread about growing Phals. From the left yellow menu choose Forums then Beginners. Near the top look for the sticky thread The Phal. abuse stops here.
Repotting after rejuvenation
Don't be quick to cut. When the plant doesn't need those damaged leaves any more (after it has grown enough new ones), they will yellow and drop off naturally. Until then, they are contributing. Let Nature do her thing. The plant really wants to live!
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