What is it? N what's wrong with it?

It's a Bromeliad. I don't know what's wrong with it for sure (not a professional), but my guess is too much sun. They like full shade. I don't know what zone you're in, but they happily grow outside here in Florida. If you're somewhere very cold, and the plant is outside, then it could be suffering from that? Once the center of the 'mother' plant turns red, and i t will only do that once, then it puts out a 'baby' which will in turn do the same thing. They're rather like 'air plants'.... not much root to them. Mine that are outside are watered through the top of the plants, and the leaves from trees do the feeding. They're relatively care-free.