Overwatered phal

[wrc]

Hi everyone. First time poster here, and I think I have an overwatered phal on my hands that I'd love to try and save. This was our first orchid and I left it in the moss that it came in for over 6 months thinking that it was healthy. In the last couple days the leaves suddenly fell off. I've posted some pictures of the roots, and it looks like root rot has taken hold. Should I cut the spike that I've left on? Also, does it look like it can be saved from the state of the roots? Thanks very much and looking forward to your help!