Others in the comments have computed the correct solution. Here I will only comment on what I think went wrong with the "intuitive" solution of $\log_2 n$.
For slightly easier exposition, I change the game s.t. we throw out all numbers larger than the drawn number. This way the numbers left are always $\{1, 2, \dots, k\}$ and it is slightly easier (for me) to visualize.
Imagine $n=2^{10}=1024$ and I play the game $G$ as stated. Meanwhile, you start with an identical bag and play a different game $G'$: at every step, you throw out exactly the larger half of all your remaining numbers. So your game will take exactly $11$ steps to finish. Which of us will finish first?
On your first draw, you draw $512$. On my first draw, I have about $1/2$ chance to do worse than you (i.e. throw out fewer) by drawing $d > 512$ and about $1/2$ chance to do better by drawing $d < 512$. However, when I do worse, I lost "less than a step" compared to your schedule, whereas when I do better, I can be gaining up to a step ($d \in [256, 511]$) or up to $2$ steps ($d \in [128, 255]$), or up to $3$ steps ($d \in [64, 127]$), etc. compared to your schedule. Apologies if my boundaries above are not exactly correct, but hopefully you get the idea. So intuitively, for large $n$ I should win easily. This also means $E[X] < \log_2 n$.
Another way to look at it: Let $K_j$ be the largest remaining number (also number of remaining numbers) after $j$ steps, with $K_0 = n$. For game $G'$, we have $\log_2 K_{j+1} - \log_2 K_j = -1$ exactly. If it were true that for game $G$ we have $E[\log_2 K_{j+1} | K_j] - \log_2 K_j = -1$, then it is plausible that the answer would be $\log_2 n$. However, in fact $E[\log_2 K_{j+1} | K_j] - \log_2 K_j < -1$. For this reason $G$ finishes faster than $G'$.