Those are really pretty flowers, but I'm afraid it does look like a terminal spike to me.
I've only seen one other and that also had a leaf part way up the spike. I understand that is a trait of terminal spikes (although leaves have also been seen on non-terminal spikes).
The plant looks OK and the roots look OK from what I can see. Keiki paste may help you to get a keiki from the spike but I think it's quite expensive stuff.
Usually I would advise cutting off a spike after it has flowered, but in this case I would advise leaving it on, because even without Keiki paste there is still a chance that a keiki will form naturally on the spike.
As John said it is also possible you will get a basal keiki as the plant looks otherwise healthy.