Will it settle back down? Or is it gonna stay bubbled?
It should go back down after a couple of days but could take longer.
I'm actually kind of surprised that you haven't seen this or haven't seen all those threads over the years discussing this very thing.
Btw John, we have done a job recently where we cleaned a clubhouse of a golf course and about 3000 sqft of the job was only encapped without steam cleaning it. And you guessed it: it looked like the ocean down the street from us...it was so badly buckled. So encapping can and will buckle bad installation jobs.
It was done with Orbot and was definitely not over wet. Most likely less moisture was on the carpet then when we Cimex a carpet.