If $x=y$, any truth about $x$ is a truth about $y$—both $x$ and $y$ represent the same object. Sometimes the notation we use can distract us from this fact. As Kinheadpump has already noted, since
$$
\lim_{x \to \infty}1^x = 1 \, ,
$$
it is also true that
$$
\lim_{x \to \infty}(0.\overline{9})^x=1 \, .
$$
Indeed, this is actually the same statement repeated over.
Keep in mind that $0.999...$ has a precise meaning. It refers to a limit of a series:
$$
\lim_{N \to \infty}\sum_{n=1}^{N}\frac{9}{10^n} = 0.9 + 0.09 + 0.009 + \ldots = 1 \, .
$$
If we instead consider the series
$$
S=\sum_{n=1}^{N}\frac{9}{10^n}
$$
for some finite value of $N$, then
$$
\lim_{x \to \infty}S^x = 0
$$
Hence, the reason that $\lim_{x \to \infty}(0.\overline{9})^x=1$ is because $0.999...$ refers to the limit of a series, rather than the sum of finitely many terms. And since the limit of this series is $1$, it follows that $0.\overline{9}=1$. You are correct in saying that $0.999...$ is merely an alternative symbol for $1$, just as $5+7$ is an alternative way of writing $12$.