Hard to tell, I’ve had Phalaenopsi put out more flowers on old spikes, as well as babies. We’ve had one for over 10 years that’s been through quite a bit before I finally pulled it out of the moss we bought it in, cut most of its roots out, and potted it in bark.
In my experience, they’re pretty hardy. I would personally let the spike go until you know what it is and make the call. Watch the leaves, as long as they don’t get more raisney I would probably just leave it alone.
Glad to see them recovering! In my experience, phalaenopsis are very hardy and resilient. If anything, the seem to prefer some level of benign neglect - especially when potted in the junk big box stores sell them in. After repotting ours in well draining potting material about 7 years ago it’s been very smooth sailing.