In the context of linear stability analysis, considering unsteady base flows is notoriously difficult. A generalisation of modal linear stability analysis, allowing for arbitrarily unsteady base flows over a finite time, is therefore required. The recently developed optimally time-dependent (OTD) modes form a projection basis for the tangent space. They capture the leading amplification directions in state space under the constraint that they form an orthonormal basis at all times. The present numerical study illustrates the possibility to describe a complex flow case using the leading OTD modes. The flow under investigation is an unsteady case of the Blasius boundary layer, featuring streamwise streaks of finite length and relevant to bypass transition. It corresponds to the state space trajectory initiated by the minimal seed; such a trajectory is unsteady, free from any spatial symmetry and shadows the laminar-turbulent separatrix for a finite time only. The finite-time instability of this unsteady base flow is investigated using the 8 leading OTD modes. The analysis includes the computation of finite-time Lyapunov exponents as well as instantaneous eigenvalues, and of the associated flow structures. The reconstructed instantaneous eigenmodes are all of outer type. They map unambiguously the spatial regions of largest instantaneous growth. Other flow structures, previously reported as secondary, are identified with this method as relevant to streak switching and to streamwise vortical ejections. The dynamics inside the tangent space features both modal and non-modal amplification. Non-normality within the reduced tangent subspace, quantified by the instantaneous numerical abscissa, emerges only as the unsteadiness of the base flow is reduced.