Waxing and polishing are two different things. Polish is a mild abrasive that removes dirt, oxidized paint and small scratches; the shine and smooth finish comes from the polish. Wax protects the paint and can add "depth" to the paints appearance. It can contain UV blockers and other things to minimize environmental damage to the paint.

The Mequiars Cleaner Wax is wax that has a mild polish mixed in. It saves time and effort from a separate polishing followed by waxing routine. Although I generally do the separate steps (habit from years of car care) for a bike used in anything but the harshest of conditions, the cleaner waxes work great. And I agree with rootboy, Mequiars make a quality product!