Those power supplies are rated at the current specified. This is an unregulated power supply.
In the picture you should get 4.5 Volts when drawing 400mA, the voltage climbing as you draw less current, and visa-versa.
It's done this way because of the transformer and secondary winding resistance losses, and what you've measured there is the 'no-load' voltage.
You can now draw a 'straight line' V-I graph to see the voltage-current relationship of the power supply, so if the tranformer can handle a short circuit
, you would get around 800mA at around 0 Volts. (Don't do this though - it'll cook the transformer)