The base coat is about adhesion and staining: it gives the colour something to grip and keeps a dark pigment off the nail plate. The top coat is about abrasion and shine: it takes the wear so the colour does not. If you only ever buy one, buy the top coat, because chipping is what ends most manicures — but a manicure that lifts in two days is the base coat talking, and no top coat will save it.
How to tell which one you are missing
Look at how it fails. Polish that peels away in one piece, taking the whole nail's worth with it, is an adhesion problem and that is the base coat. Polish that wears back from the free edge and goes dull is an abrasion problem and that is the top coat. The failure names the missing step.
Neither replaces the other, and a two-in-one does neither well
Combined base-and-top formulas exist and are a compromise by construction: adhesion wants to grip the nail, abrasion resistance wants to be hard on the outside. Two thin bottles do more than one thick one.