No, It actually has nothing to do with "orthodox jews." The passage nowhere mentions "orthodox jews." Peter was not writing about the theological problems of Judaism and the historical people of faith vs. Gentiles and how the two are reconciled. For that problem, you would go to Romans or Galatians. Peter was writing to a group of mixed (Jew and Gentile) Christians. The passage about the "spirits in prison" has been puzzled over as to whether it meant: "spirits" of older saints who were somehow released to a fuller recognition of God by the crucifixion, demonic beings, or "who knows?" No commentator that I have ever heard of has posited that this referred to orthodox jews who were in hell.
Are you under the impression that New York Reform Jews inhabited the Holy Lands when Jesus was roaming around it?