Unfortunately there is no universal definition for the word (noun) polish. When I become an evil overlord and iron-fisted despotic ruler of the human race I will have the word stricken from the English language.
Megs usually (but not always) means a product made up of “nourishing oils” and microscopic fillers to add depth and improve gloss.
3M uses “polish” to mean a very fine abrasive for leveling minor surface defects. (What Megs calls a “polish” 3M calls a “glaze”, but then Megs calls them “glaze” also.

)
Yet other companies sell products that say “polish” on the bottle but contain waxes (natural or synthetic) or polymer sealants.
And of course there are those products that say “polish” on the bottle but actually contain obnoxiously aggressive abrasives and should really be called a "compound".
Bottom line, when the bottle says “polish” read the label/directions/description carefully and make sure the product does what you are looking to do.
PC.