This is happening on the 2nd node from the top of the main spike, which was cut from the last bloom cycle earlier this year. The phal doesn't have any sign of other spike growth.
I have no idea what a keiki looks like in the initial stages upon sprouting from a spike. Will it be very similar to a new spike? I did some image searching on the Internet and couldn't find much. My gut instinct is that this is a new spike. The plant isn't as well established enough to have the energy to produce a keiki, I think.