I've had this same question myself. As I understand it, the limit is the real number $L$ that $f(x)$ get's $\mathit{most}$ $\mathit{arbitrarily}$ $\mathit{close}$ to as $x$ approaches $a$, i.e. there does not exist any other real number that $f(x)$ gets closer to.
The limit is not making a statement about the "true" value of $f(x)$ that is achieved when $x$ "arrives" at $a$ (which sometimes coincides with $f(a)$, incidentally). The limiting value is the value that is getting pointed to. It need not be "achieved" in order to $\mathit{be}$ the limit.
Let that sink in.
I think this example illustrates my point best:
When we say that $$\lim_{k\to \infty} \sum_{n=0}^k \frac{1}{2^n} = 2$$ we don't mean to say that the partial sums actually ever reach 2, but that the real number on the real number line that the partial sums get closest to is 2. Not 1.9999999999...98, but 2.
Philosophically, we might wonder if such an infinite sum really, truly $\mathit{equals}$ 2, but the use of limits doesn't answer this. If we wanted to investigate that question, we would perhaps drop the limit out front and write $$\sum_{n=0}^\infty \frac{1}{2^n} = \space ?$$
but dealing with a "concrete" infinity like that hasn't been defined, as far as I'm aware.
Curiously, limits were implemented as a way $\mathit{around}$ this philosophical question regarding the infinite. Using limits makes it so calculus doesn't have to use infinitesimals, as it would happen.
So yes, the limit does really, truly $\mathit{equal}$ 2 in this case, but it would seem it's not actually the limit that you're asking about here, but something that creeps into the realm of meta-mathematics and philosophy.