When you have healthy VFT, it's okay to let them flower, not recommended to let weak VFT to flower, especially when someone is a newbie. But...

What water are you using? I have grown my VFT sitting in water but not that waterlogged. Plus you have succulent plant growing next to you VFT, a desert plant that grows in mineral rich alkaline soil. That will leach into the water and contaminates the media of your VFT with minerals and possibly fertilizer, which lowers the acidity of the soil. VFT are suppose to be growing in mineral poor and acidic soil. You may be killing your plant and it looks like it may be suffering bulb rot.

I've had VFT go stringy on me and it's because the bulb is rotting, and yours looks real bad.

I agree, you have the water level way too high and the water is contaminated. You should take the pot out of the water and flush it with distilled,RO or rain water very well and then let it dry out some. It may not survive but I've seen them come back from nothing showing above ground. If it does survive I would keep it in a bowl of no more than an inch of water. Good luck.

I am using distilled water..adn the reason it looks super wet is because it was 102 outside so i top watered and then took a picture..the aloe vera plant was only in the cat liter tray for less than 30 seconds..but i wont put it in there anymore

i purchased the vft like a week before and the flower stalk was already there..so i figured there was no point in cutting if off because the energy was already used

the only thing i regret is that the mix i used didnt have as much pumice as i would have liked..but i purchased more..and im thinking im going to repot it using the more even medium

i wouldnt say im a newbie..maybe 1/2 a step up...vft's are the only cp ive had trouble with..ive successfully grown various pitchers adn other cps..i duno why vft's dont like me :(

Hunter is correct. IF healthy you can let them flower. If not cut the flower stalk off.

Keep the water level at about 1 inch. The idea is NOT to have the water level cover the flytraps Rhizome. This is also true for American Pitcher plants as well.