I am no expert but it looks fine. After August rains/storms last year we had sudden increase in already humid South Florida and all my Cattleyas that were doing fine in clay pots until then, lost roots.
This was my first year growing any orchid. Can not tell you how discouraged I was at that time.
This was even when they were not exposed to rain or over-watering. I repotted them all in lava rocks in baskets jut like you did and mine look same in size ratio as yours do. I hung them all on the trees and left there. I water them more frequently as spring gets warmer. Roots have grown on some and some are sprouting new pseudobulbs now but they sat doing nothing in the baskets until recently. Time will tell how well they will grow but I have a hunch they will recover this season and eventually bloom.
So ,I say it takes a bit more time and care initially with all the watering in lava rock baskets but when the summer rains start, it will get better. Hopefully no rot to excessive moisture. People here have to be careful at that time as too much rain can cause fungus. So have some good antifungal handy. You may even have to protect plants from excessive rain.
That is all that I have learned so far. keeping fingers and toes.... and eyes....crossed.