The following property of ultrametric spaces seems quite strange:
(No new values of the metric after completion) Let $x_1, x_2, \ldots$ be a sequence in $X$ converging to $x \in X$. Suppose $a \in X, a \ne x$. Then $d(x_n, a) = d(x,a)$ for large $n$. [...] The metric completion of $X$ is again an ultrametric space, denoted by $X'$, with the metric on $X'$ also denoted by $d$. By the above remark we have $d(X\times X) = d(X' \times X')$.
What does this mean, "no new values after completion" could be interpreted that the space equals it's own completion, but that I am sure is not the case. So what does this property mean, and does it has any applications?
Remark: This is taken from page 4 of this book.
The distance between any two $x,y\in\Bbb Q$ is a value in $\Bbb Q$. If we take the metric completion of $\Bbb Q$ we obtain $\Bbb R$. The distance between two $x,y\in\Bbb R$ can be any real number, not necessarily rational.
So distances between points in $\Bbb R$ can be values that distances between points in $\Bbb Q$ can't be.
What the text is saying is that in an ultrametric space, when you take the completion, no new values will be taken by the distance function. Since $d(X\times X)=\{d(a,b):(a,b)\in X\times X\}$ is the set of all values taken by $d$ on $X\times X$ (i.e. between points of $X$), one way to say this is that the value sets of $X$ and $X'$ are the same, i.e. $d(X\times X)=d(X'\times X')$.