Measuring the current draw on an AC circuit does not tell you the power, it tells you the VA. If you use a power meter it will be much closer to the 2 W figure.
Capacitors store energy when they are charged. In your circuit the capacitor is charged one way each mains cycle, and discharged and charged the other way in the other half of the mains cycle.
The current you measured is mainly the current needed to charge and discharge the capacitor, as the energy is flowing in and out of the capacitor from the mains.