Your pot is perfect. You have a fabric pot that can absorb and release air. You don't need to drill holes in the bottom. The soil dries out faster in a fabric pot because it gets more air... Keep that in mind.

in a high-water capacity soil, you want 50% of volume to be some sort of amendment that helps drainage... like perlite or vermiculite. Not too fine and not too chunky it physically impedes roots. in something with a lower water capacity, you can use less. e.g. coco coir holds 2/3rds the water per volume of most 'soils'.. this is why coco coir only needs 33% perlite per volume. this is proportionally different because the same end goal is achieved - roughly 1:1 gas:water ratio per volume. looks like woodchips were used in this case. woodchips are less than idea, but won't ruin anything, obviously. Small stuff adds up but nothing to fret over midstream. just use more 'drainage' amendments next time. don't need holes in fabric. a pot elevator is nice. Dont need that layer at bottom, either. from what i've read lately it has little to no impact. the only thing to avoid is the pot sitting in standing water, like it's runoff. avoid that and all is well. Proper drainage will avoid issues as long as it doesn't sit in its own piss for long periods of time. "soil" has a wide range of possibilities as far as how it is contituted. so YMMV ...

No holes, fabric pots are excellent for "breathing". Oxygen is not something to worry about, the previous answer was well meaning but not quite correct. Oxygen availability can really only be restricted if you are growing in very wet soli/mud.

No, don't cut any holes. The felt pot allows enough air to reach the roots. A 2cm high drainage layer or a grid under the pot is great.