It looks good to me too. However, I am happy with ANY flower, specially if it bloomed in my care.
In the case of paphs, I would be happy if they stayed alive long enough to bloom
Just guessing from experience and hearsay, these are PROBABLY reasons why judges would not like the flower:
1. The picotee around the petals are uneven.
2. The pouch's bottom twists slightly to the right.
3. The light color on the bottom of the pouch again has uneven borders. It should either fade uniformly, have a distinct border or not exist at all.
4. The tip of the dorsal sepal curls.
5. The burgundy base color is not deep enough.
I dont really care much for those criteria (I dont even submit plants for judging - I am not that hardcore yet

). Although it is a big deal for someone trying to grow award quality plants.