The chip with the rubber-off numbers int he plug power meter is probably a clone of the Analog Devices ADE7755.
Used extensively in basic, only kW/kWh meters, and therefore there are a few copies of it floating around.
The original is quite a nice chip, i have tested devices with a known clone in it and they performed roughly identical.
So it is probably a easy chip to clone.
I am missing calibration options/pads, this is usually done by solder pads to bridge a couple of resitors in path of the voltage measurement.
It could be in high-resolution mode and calibrated in the software in the blob next to the lcd, but i doubt that.
As for the capacitive dropper, that is the default design used in electricity meters, nothing new there.
Regulations state that they must be double insulated, and to measure the shunt (which is in line with the phase) needs to be to the ground of the measurement chip.
So your electronics can't be isolated, the device must be, so why add a isolated power supply, it is just more expensive.