There are a lot of comments here saying that this isn't a SMPS, then proceed to describe a flyback converter (and the difference vs this unit) as a justification. Just note that the field of power electronics is quite large, and as an example, some power converters don't even have an inductor or transformer (though most do). As I understood, the definition of a SMPS relates to switching between discrete states (i.e. on/off) as opposed to a linear supply, which dissipates power to regulate. Source: am a power electronics engineer.