I think a better way to present the formula to give it meaning is to write a purely periodic rational number's representation in the p-adics as,
$$\frac{a}{b}=\sum_{n=0}^\infty m p^{kn} $$
$m$ is a $k$ digit natural number (not necessarily excluding leading zeroes), so for instance in the 5-adics we could write in multiple ways as,
$$-\frac{1}{24} = \frac{1}{1-25} = \sum_{n=0}^\infty 1 * 5^{2k} = ...01010101$$
Similarly we can write the negative of this rational number as a real number in base p with,
$$-\frac{a}{b} = \sum_{n=1}^\infty m p^{-kn}$$
So for instance,
$$\frac{1}{24}= \frac{\frac{1}{25}}{1-\frac{1}{25}} = \sum_{n=1}^\infty 1* 5^{-2k} = .01010101...$$
So you could naively add the perfectly legitimate rational numbers on the left hand side here, and do the totally wrong thing on the right side by dipping your left foot in the p-adics and right foot in the reals,
$$\frac{a}{b}-\frac{a}{b}=\sum_{n=0}^\infty m p^{kn} + \sum_{n=1}^\infty m p^{-kn} $$
$$0=\sum_{n=-\infty }^\infty m p^{kn} $$
Then you can imagine factoring out that natural number and dividing it out and letting $x=p^k$ a special case,
$$0 = \sum_{n=-\infty}^\infty x^n$$
Which is the formula we were looking at. Now the reason $x=1$ would not work from this perspective is that would have $k=0$ which, in this already broken situation, represent the even more broken scenario of having m be a zero digit number and so if it didn't represent anything before it definitely doesn't represent anything now.
I'm not really sure what to say past the fact that it's more like an interesting consequence of the fact that a rational number x not equal to 1 can be represented in these two equivalent ways, except the left side can be expanded as a p-adic number while the right side can be expanded as a real number.
$$\frac{1}{x-1} = \frac{x^{-1}}{1-x^{-1}}$$