A strange growth on my orchid

[orchidNewB_2021]

In April, I ordered a Encyclia Cordigera aka Epidendrum atropurpureum (2" pot size) from a nursery. The plant was healthy with plumping and shinny pseudobulbs. Recently, more wrinkles appeared and I thought that it requires more frequent watering.

Now I realized that there is a new pseudobulb growing on top of the original one, which was providing water and nutrients to the new pseudobulb and therefore wrinkled day by day. Another pseudobulb has the same new growth. With a lot of research online, I could not find related situation on this species. Please see the photo of the strange new growth and advice how to handle the plant.

Questions:
1) Is it normal or rare to have such a growth?
2) Why did it happen? I just repotted it in April, then gave it regular watering, misting and occasional 20-10-20 fertilizer.
3) Will the old pseudobulb die after the new bulb is fully developed? Does the plant need a repot?
4) Is there anything I need to be aware of? What could be done to keep this plant healthy?

I appreciate if anyone can help me to solve this! I really have no clue about why it has the growth on top of the young pseudobulbs.

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