Polishing doesn't protect the paint. When you polish, you are actually abrading the surface of the clear to remove the tiny swirls (scratches). If polishing is done correctly, waxing won't improve the perfectly polished paint. It does in most because it fills in the tiny scratches that you remove by polishing.
Think of sealer as a kind of synthetic wax that lasts longer than traditional waxes. Because it does last longer, it take the blemishes that your unprotected clear coat would. - that's why personally I put wax over the sealant (called topping). I'm actually filling in the small scratches in the polish with wax. There's a million different views on whether to seal and wax or just seal or just wax....lol. All I know is my truck is easier to maintain (shiny-wise) if I wax over the sealant.
So in my case, I'm protecting the sealer that's protecting the clear that's protecting the paint....