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.
That only works within an organisation, right?
Otherwise you just get an email. I got one recently.