DMARC compliance requires that one of SPF and/or DKIM pass both SPF/DKIM authentication AND DMARC alignment tests.
So long as EITHER SPF or DKIM is both authenticated and aligned, the message will pass DMARC tests and be delivered to the recipient inbox.
Should BOTH SPF and DKIM fail alignment, DMARC will fail and the sender DMARC policy will apply (p=none | p=quarantine | p=reject).
DMARC policy is the recommendation of the sending domain as to how the recipient mail agent SHOULD treat the message if it fails both SPF and DKIM alignment (e.g. deliver to 'Junk mail' or quarantine, or potentially outright reject the message).
Requiring that only one of SPF or DKIM pass DMARC alignment tests provides a bit of a 'failsafe' for properly authenticated messages. For example, messages forwarded through a compliant server add an Authenticated Received Chain (ARC) header to preserve the original DKIM signature validation; a valid DKIM ARC signature will allow the forwarded message to pass DKIM DMARC alignment tests and be delivered to the ultimate recipient inbox despite being forwarded through one or more intermediate servers.