Leaf wrinkles and yellows

No

 

I assume the orchid in the photo is a dendrobium hybrid descendant from crosses between dendrobium of the Sphatulata and Phalaenanthe section. Having said that the answer can be a bit confusing to a newby. First, it is totally normal for these dendrobium to drop the leaves of canes that are more than a year old. A cane less than a year old losing its leaves is not normal and it is usually a response to adverse environmental conditions, the loss of the root mass or illness. These types of dendrobium can keep their leaves for four five or even more years if conditions are optimal for their growth and humidity and light exposure are just perfect. But under conditions that are marginal for growth or substandard usually only the year cane will be fully leafed. So whether leaf loss is normal, depends on the context of that leaf loss which I have no knowledge in this case.