This is the electrical schematic of the circuit that provides 3.3V on the Arduino UNO board: 
My question is: What is the purpose of the circuit?
Here is what I understand: RN1A and RN1B divide Vin by 2 before the comparison (not sure why), but what is the point of the MOSFET, since a positive voltage from USBVCC can cause current flow from the diode pictured anyways, without requiring the MOSFET to be turned on? LP2985's datasheet mentions that it requires a positive voltage to operate, so it does not make sense to talk about what would happen if USBVCC is negative.