dear friendIt is a transformerless power supply.
The diodes rectify the current to one polarity.
The 2.2 uf capacitor limits current into the diode bridge.
yes,i doDo you understand how a 4 diode bridge rectifier AC into pulses of DC?
The only change here is a capacitor is limiting the AC current instead of a resistance or an inductance of a transformer.
Agree.D3 is drawn the wrong way round.