The thing about a factorial is that it has to go all of the way back to $1$ in the product. Thus, $(x-4)!$ factorial goes far beyond $(x-1)$, and we see the following if we expand the factorials:
(Footnote: $x$ is assumed a positive integer greater than or equal to $4$ in the above algebra. Since you're taking the limit $x\to \infty$, this can be justified.)
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$n!$ is the product of all natural numbers up to and including $n$. So
The thing about a factorial is that it has to go all of the way back to $1$ in the product. Thus, $(x-4)!$ factorial goes far beyond $(x-1)$, and we see the following if we expand the factorials:
$$\frac{(x-4)!}{(x-1)!} = \frac{\color{blue}{(x-4)(x-5)(x-6)(x-7)(x-8)(x-9)\cdots(2)(1)}}{(x-1)(x-2)(x-3)\color{blue}{(x-4)(x-5)(x-6)\cdots(2)(1)}}$$
The terms in blue all cancel (and hopefully this is obvious by the expansion above), yielding the result
$$\frac{(x-4)!}{(x-1)!} = \frac{1}{(x-1)(x-2)(x-3)}$$
(Footnote: $x$ is assumed a positive integer greater than or equal to $4$ in the above algebra. Since you're taking the limit $x\to \infty$, this can be justified.)