apply-templates select="@*|node()

I am very new to xslt. Please help me in understand how will the flow of below xslt work for a given xml

Will the output be same as the input or will the output consist of only attributes.

<xsl:template match="/">

<Request>   
    <xsl:apply-templates select="Envelope/body/*" /> 
</Request>           
</xsl:template>

<xsl:template match="*">
    <xsl:element name="{local-name()}">
        <xsl:apply-templates select="@*|node()"/>
    </xsl:element>
</xsl:template>

<xsl:template match="@*">
    <xsl:attribute name="{local-name()}">
        <xsl:value-of select="."/>
    </xsl:attribute>
</xsl:template>

Thanks