The Blueboy Lugos card does not trigger the card's ability after the 5th time it gets hit. It simply just destroys itself. If the card is working as intended, then the least you can do is to make it clear that the card only triggers 4 times.
I would like to have clarification on whether this is WAD: Let's take a card like Blueboy Lugos, who has an effect that triggers when he takes damage. If that damage kills him, the effect doesn't get triggered. Same with cards like Dimun Longship or Drummond Shielmaiden.