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It has likely been stuck in less than favorable conditions until recently. These will consistently produce new growth all year under the perfect conditions. This means that whatever has changed has been beneficial to the plant.

These orchids will flower once the daily light hours decrease below roughly 12 hours per day. Rather, they need at least 12 hours of pure darkness in order to initiate flowering. It would seem that they were able to reach this requirement.

This article will help you with the care of these: https://www.gardeningknowhow.com/ornamental/flowers/orchids/phalaenopsis-orchids-post-bloom.htm

This could be due to watering issues, environmental problems, pests and disease.
These articles will help you pinpoint the issue.

https://www.gardeningknowhow.com/ornamental/flowers/orchids/treating-orchid-diseases.htm
https://www.gardeningknowhow.com/ornamental/flowers/orchids/common-orchid-problems.htm
https://www.gardeningknowhow.com/ornamental/flowers/orchids/indoor-orchid-care.htm

There is no way to really judge how long the flowers will last. The environment can effect the bloom time. Correct sunlight, temperature and humidity will help optimize the blooms times.

https://www.gardeningknowhow.com/ornamental/flowers/orchids/indoor-orchid-care.htm

https://www.gardeningknowhow.com/ornamental/flowers/orchids/orchid-care-after-blooms-drop.htm

You can plant it to form its own new plant when it is ready! This article will help: https://www.gardeningknowhow.com/ornamental/flowers/orchids/orchid-keiki-care.htm

This is the Phalaenopsis, or Moth Orchid. The thing in the photo looks like a deformed leaf. This can happen from time to time. Make sure that this gets bright, but filtered light.

This article will give you more information on the care of these: https://www.gardeningknowhow.com/ornamental/flowers/orchids/phalaenopsis-orchid-care.htm

These will not bear flowers naturally in the summer. The amount of total pitch black darkness must come to or exceed 12 hours per day for these to set flower. This is called photoperiodism, and is common in many plants. This one just happens to be a "short day flowering" plant.

The way I initiate orchid flowering is with synthetic lighting on a timer. 12 hours on and 12 hours off equally. This will for blooming. You will also want to let them dry out a little more than usual during this time. You should be feeding with an orchid fertilizer quite frequently. You can water into the roots, or spray on the entire plant including roots, which is recommended.

Just mix orchid fertilizer at 1/4 strength into water and spray every two weeks.

With these methods combined, you will soon have flowers, but just make sure that there is NO light at all during darkness, or flowers will not set properly.