no you do not want to cut them, although it generally wont hurt them when your roots are growing at that rate you want to transplant your plant into a new, bigger container.
well congrats on taking the first step, need a little more info..... what are you using? lights, soil, food, space,co2, size of container, seed or clone
Ya your plant is pot bound, it probably will yield less bc you got a area constraint. Being pot bound shouldnt kill it or anything let nature cut them imo..
i just transplanted from 5x5 square pots to 3 gallon rounds.
after taking them out of the smaller pots i found at all four corners there was an abundance of roots where each four holes were.i guess thats where the roots could breath the most.
but yea mine were also growing out the bottom like yours, im sure their gonna love the new home.