No, Exchange ActiveSync (as the other commenter correctly identified it) really allows an admin to wipe your device - ostensibly of mail, but often of all other data as well.[0]

If your Outlook server disables IMAP & POP3, then the ActiveSync protocol is AFAIK the only way to get in-app emails on your phone. Admins do this so that they can forcibly wipe the device if they "need" to.

0: https://learn.microsoft.com/en-us/exchange/clients/exchange-...