You act like enterprise/organizations/IT do that sort of thing on a whim. Any organization has rigid rules about that sort of destruction. If only because the organization's data will be lost from that device, never mind the possible backlash. Where I work, it requires the IT Director to approve.
Yes, technically it can be done. But the mentality that thinks it just happens for no good reason or with no big internal drama - including review by Internal Audit - is the paranoid mentality that thinks that we sit there looking at your emails because we have nothing better to do. While, personally, it would amuse me to wipe out your device, you're not worth the paperwork and meetings and such that would result. You're just not that interesting.
BTW, it's not just Exchange that can do it - any MDM solution can do it as well, such as MobileIron or Casper. Something for you to fret over at night. Oh, and probably your carrier as well.