Wall voltage = 120V and Wavy.
Old USB = 5V and Not Wavy.
These adapt the two. They’re also known as power supplies. The bricks in laptop cables are also power supplies, they can just handle more power. Modern high speed USB just has a whole conversation with the plug where they agree on whether to use Not Wavy 5V, 9V, 15V, or 20V.
Technically they are power supplies.
A transformer can be a power supply, but on it’s own it can only transform AC power between two different voltages, so it can only be an AC:AC power supply. The number of windings on one side vs the number on the other, will determine the ratio of your voltage change.
But a pure transformer AC:AC power supply is not particularly efficient. A transformer’s power rating is based on the overall number of windings it has, and on the power frequency.
So if you’re lowering the voltage, it’s more efficient to use mosfets to chop up your voltage at a very high frequency, then run that high frequency voltage through a smaller transformer.
And with DC power supplies, they not only need to lower voltage, but also smooth it out to a single unchanging value, and this results in an even more complex circuit where you first rectify the wave so that it’s all on one side, then you chop it at high frequency then transform it, then smooth it out.
So transformers are still involved, but typically they’re just one part of a larger whole with these.