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It looks like you need to flip one of the diodes and put sign indicators on the capacitors so that one is active during the positve half cycle, and the other during the negative half cycle. You could simply use one capacitor and a bridge rectifier like most power supply designs. But the...
As far as I can remember, node shrink has been "coming to an end in the not too distant future" at least since the 1 micron node. Somewhere around 30 years ago.
I'm sure it has slowed since then, and will end some day. But at this point I'm not betting on whether it will happen in my lifetime.