Trader Joe's Thai yellow curry sauce contains no curry

Exactly. OP is clueless. The ingredients list IS curry.

Kind of. Unlike Indian curries, Thai curries traditionally don't use dried species very much preferring a paste of fresh ingredients, usually chilies, onion, garlic, galangal, shrimp paste, etc, and then fry in coconut milk.

In this case it's a yellow curry. Some Thai curries are yellow, but usually "yellow curry" means a Malay-style curry. In a Malay-style curry, the shrimp paste is not necessary and more dried spices are used, particularly turmeric which gives it the yellow colour.

The only suspect thing on this label is <2% chilies!

Yes. Specifically, cumin plus tumeric makes the basic curry flavor. After that, you add all sorts of things depending on culture, cuisine, recipe, etc.