Look at TreeFormto see how your expression is parsed.
TreeForm@Hold[Table[{x1, 1, 2, 3}^i, {i, 0, 3}] // Inverse /. x1 -> 1/2]

(source: yaroslavvb.com )
Everything after //is considered a functional head, which is used with Postfix notation. So you need some brackets
(Table[{x1, 1, 2, 3}^i, {i, 0, 3}]
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