Well, first the bad news. Your plant does, indeed, have what's called a "terminal spike". Terminal, in this case, means that it's growing from the terminus of the plant's growth stem, though, unfortunately, it's also a sign that the plant is terminal. Eventually.
Eventually is the word that gets to the good news. The spike is already growing a keiki, which should develop into a new plant. The keiki should grow more leaves, get roots, and grow into a plant which blooms flowers identical to the original plant. While it grows it will be fed by the mother plant, so the longer you can leave it attached the stronger it will get. You CAN remove a keiki when it has at least 2" of roots, but the longer you leave them the better.
Further, the mother plant still has several years of life in it. Where there's life there is also a willingness to stay alive. Quite often, a plant with a terminal spike will grow what's called a basal keiki. A basal keiki is a new growth that comes from the base of the plant and develops into a reproduction of the original. Just keep treating the plant as you always have, and with just a wee bit of luck you should enjoy the flowers for years yet.
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