The formula itself is a general purpose method of decoding a bitmap stored in the constant n, so it could actually be used to draw any other image, and does not in fact contain any reference to itself.
The constant n is a simple monochrome bitmap image of the formula treated as a binary number and multiplied by 17. The least significant bit encodes the top right corner; the 17 least significant bits encode the rightmost column of pixels; the next 17 least significant bits encode the 2nd rightmost column, and so on.