Based on your data, it is matched to a modelled power curve. The curve used for you is based on your own data. You can be above or below the curve, indicating you have either done maximal efforts better than the modelled curve, or haven’t done efforts hard enough across the duration (x-axis). As W’ is power above CP, it’s anaerobic, so you could have a better anaerobic contribution to your power curve than the longer aerobic side (below CP).
Here’s a clean look at the actual power curve above and below the model curve.