If you're worried about mealy bugs, get in there with a toothpick and remove some of the white stuff. Mealy residue will tend to be a little sticky and stretchy and clumpy, less like a pile of wax. Mealy bugs themselves may not be obvious by sight (and my sight is not great to start with), but if you rub some of the white stuff between your fingers, you will feel them as distinct hard objects. So that's how I usually confirm a mealy bug situation, by touch.
It looks like the leaves are letting go of that one stem because it has gone soft near the tip. Remove any leaves that let go easily (looks like you could grab one or two) and try to see if the affected part of the stem is advancing downward over time. You might choose to cut through healthy tissue below that area in order to avoid this.
Some of these plants are crazy clumpers. You might consider thinning out some of the competition in order to keep the bigger rosettes happy. The plant looks fine as it is, just mentioning this as an option to consider.
