Three words: that basal plate. Thats the problem here. Yes, I think you can save it. peel off any layers if they're even slightly soft, scrape the basal plate back to fresh tissue, and leave it out to dry overnight. then pot it in a pot with drainage holes and keep it barely moist until it shows signs of growth. seems like your problem was that basal plate. when you get a ton of dead tissue on it like you have the bulb can't push new roots through it. the softness is the bulb using its stored water to grow and sort of deflating. I've had to trim several basal plates like what is in picture 1 and all the bulbs came back healthier for it. I usually take a knife or potato peeler and scrape the soft tissue off until I see white tissue. you may even see small circles on the inner basal plate, these are roots. then let it dry for a day (I wrap them in paper towel for a night), pot it and treat it like any freshly planted bulb. I definitely don't think your watering was an issue, it's that basal plate. it's like a buildup of dead skin-you need to exfoliate to help freshen it up. good luck :)