Definitely a hybrid. I do see Phal equestris influence, but this is probably a multi-generation hybrid, not a direct offspring of equestris, so I wouldn't lean too heavily on recommendations for that species in particular. General Phal care in all respects. But for many of these smaller hybrids, you never know that a spike is done until it is dead. Cutting a spike or not is up to you. It doesn't help or hurt the plant.

Also with these small hybrids, they tend to get many basal keikis like this, a very different thing than spike keikis. Spike keikis eventually must be removed and potted on their own or they die when the spike dies eventually. Basal keikis are usually not routinely removed with small hybrids like this. The more crowns they develop the more flowers they'll get. Full size Phals can be awkward with multiple crowns if they get them, but the same really applies to them too. If you do want to propagate your plant, wait until it is time to repot anyway. When you have the plant out of its pot and the old bark removed look closely to see if the keiki has good roots of its own, and carefully cut it from the mother. Or you may find that the connection to the mother isn't very strong and it might be easier to just break it off.

BTW, your plant looks to be in perfect health and growing like a weed. It wouldn't get multiple keikis if it didn't have more energy than it could put into one crown.