As others have noted, your equation looks wrong because you don't state units and the scaling constant is not what we are used to. If torque is in pound feet, and Hp is power in US horsepower and RPM is rotations per minute, then the scaling factor is 5252.
But back to your deeper question: this equation makes torque the inverse of speed when previously you'd been taught that torque was proportional to speed.
This comes down to determining what is being held constant so that you can correctly apply the equation.
If you ask the question 'How much torque is 10 Hp at different speeds?' then by the way you have stated your question you are holding power constant. In this situation torque has to increase as speed decreases. You might encounter this situation if you were doing design work and had a particular power budget, knew the load torque requirements, and were selecting motor speed to fit the two.
On the other hand, you might be holding torque constant and asking what power was required to move at a particular speed. If torque is constant (for example lifting a load) then power is proportional to speed.
For many loads torque is proportional to speed, in which case power is proportional to speed squared. Still other common loads have torque proportional to speed squared in which case power is proportional to speed cubed.
Same base equation T=power/speed, but applied in different situations where different terms are constant or scale in different ways.
A completely analogous situation is the relationship between power, voltage, and current when you consider Ohm's Law. Power = volts * amps (DC case for simplicity) if you are asking 'how much current is needed to deliver some number of watts' then current goes down as voltage goes up. This question explicitly assumes constant power.
But if instead you are supplying power to a particular resistor, current goes up in proportion to applied voltage and power goes up as the square of the voltage. In this situation you are using the same equations but holding resistance constant.
And if you are supplying power to something like an incandescent lamp, you use the same equations but have to deal with the fact that even the lamp resistance is not constant.
Hope this helps.
Jon