It's slightly subtle. To get a sense of why your In[3] returns True you need to see how the expression is evaluated. The short answer is that the expression inside of it,
Sum[q^k, {k, Infinity}] == -q/(-1 + q)
is evaluated before the other things are evaluated. So it first is turned into
-q/(-1 + q) == -q/(-1 + q)
and then the rest of your quantifiers are subsequently being applied to the simple expression which is just the symbol
True
which of course is always True. To see this unfold make use of TracePrint to see some the evaluations that Mathematica is doing
ForAll[q, Element[q, Reals],
Sum[q^k, {k, Infinity}] == -q/(-1 + q)] // TracePrint
which gives (it displays in a notebook differently but I have changed it to InputForm for readability in this forum):
HoldForm[ForAll[q, Element[q, Reals], Sum[q^k, {k, Infinity}] == -q/(-1 + q)]]
HoldForm[ForAll]
HoldForm[ForAll[q, Element[q, Reals], True]]
HoldForm[ForAll]
HoldForm[True]