Thanks Roberta, it does feel mushy, not dry.
so that's not normal?
Probably normal, but potentially messy... I think I'd slice it off at the base and apply cinnamon. Won't harm the plant (firm old pseudobulbs are reserve energy, but mushy ones don't do anything good and could be vectors)
Looks like you got it cleanly. Indeed it does not look like there was anything spreading, so it should have been OK leaving it too... you can see that it is pretty much isolated, the plant separated this p-bulb pretty much before you did.
The older pbulbs do this as new growths are developing...it is very normal. Basically, the new growth is using the energy of the older one to fuel the rapid growth. Again, it is very normal and it is best to leave them until they are sucked completely dry.