I'm looking at doing so upgrading to my 10 year old 4'X8' CNC router and looking through my control cabinet I'm honestly not sure what some of the more important components are. I've got what I think is a massive transformer and then a tiny little 24v power supply etc. Can any help me with these pictures?

This system is 220v and has NEMA 34 steppers.

I marked a few things. I know #1 is my VFD for the spindle. That's all it does correct? Or is it also power for other things? Dumb question I know but it all works so I haven't really thought it through.

I know #2 are my stepper motion controllers. #4 is a fuse/relay but don't really care at this point.

#3 is a Mean Well S-15-24 24v power supply. It's a "AC-DC Single Output Enclosed power supply Output 24VDC Single Output at 0.7A free air convection." If this is only only actual power supply how is this supplying enough power to 4 steppers of that's what it is doing?

#5 is a transformer correct?

Any help is appreciated.