It is wax.
It could have cleaners in it. But I doubt it. Kinda seems like a magic formula. Haha. They don't really reveal what it really is. The fact that they say it may help removing swirls in their own FAQ would steer me away from their product. It definitely WILL NOT. Anybody who knows detailing products will know this... they're just trying to sell product.
i know i was thinking of putting this on after i applied polish and wax for an extra level of protection/shine lol.
You don't apply polish. You polish a car. You work the polish until it breaks down. You are physically removing clear coat when you polish. It is not meant to provide protection... although some companies sell all in one products. There are also polishes that have fillers in them to hide blemishes.
The FW1 is marketed as a cleaner so it MAY strip existing wax/sealant. It's not really going to add much protection anyway. It's more of a quick detailer. I'd just get a good quick detailer to use after washes if you want to keep your wax/sealant lasting longer.