I’d say in-between, there should be some effort to get it closed, but not too much. You should be able to tell the foam is compressing a little. I’d personally want at least some padding on the bottom. As far as around the sides, see if you can feel it shifting when you pick the case up and move it around.
Just for comparison, this is the hard case for my Korg. It’ll be slightly different as this is sort of bespoke for a couple of their models rather than a general purpose one, but they shipped it to me in this case (and an outer box). The foam in this is quite rigid. But you can see there’s still more padding above than underneath.
I actually use a rifle case for my other synthesizers, it was entirely packed with foam as you’re meant to customize it for the firearm you plan to put in it, so I was able to cut a pattern that would fit a couple of my different models.