You correctly identified root rot: brown, mushy roots and loose bark at the stem base. Overwatering is the culprit. You've already removed the plant, trimmed rotten roots, and repotted in fresh soil—good first steps.
With reduced moisture and fungicide treatment, the plant often regenerates new roots.
Step-by-Step Recovery of a Dracaena Marginata from Repotting Disaster
Saving a Dracaena Marginata from Root Rot After Overpotting
Rescuing a Frost-Damaged Dracaena marginata
Repotted Dracaena Marginata Drooping: Firm Soil, Better Light, No City Water
Dracaena Marginata Losing Lower Leaves: Normal or Problem?
Dracaena marginata 'Bicolor': Narrow Two-Toned Leaves for Medium Light
Dracaena marginata 'Colorama': Colorful Striped Leaves for Medium Light
Dracaena Marginata Wilts After Cold Night: Recovery Steps
Pruning a Leggy Madagascar Dragon Tree (Dracaena marginata) for a Stronger, Bushier Plant
Identifying & Caring for Schefflera actinophylla & Dracaena marginata
Aging Dracaena Marginata: Water Less, Prune to Rejuvenate
When to Repot a New Dracaena Marginata
Dracaena Marginata Yellowing Leaves: Natural Aging or Problem?
Transplanting a Large Dracaena Marginata: Pot Size, Soil, and Root Care
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