Sometimes I read something that shocks my sensibilities. This is such a case. When works for a company, they do that, typically, to provide income to improve the rest of their life. Most of us work to live, as opposed to live to work. When you connect to your corporate email, you do that as a service to your company, it is not your company providing a service to you. Your company has every right to wipe THEIR data if you leave, or otherwise. But they have no right to wipe YOUR data. If the company offers to buy you a separate device, then maybe your argument holds water. But if you simply connect to their server to improve your productivity, you are providing the company with better service by connecting - you do them the favor (as opposed to them doing you the favor). They do not have the right to wipe your data on your device. I suppose if you sign over that right, then this is debatable. But all else being equal, they have no more right to wipe your device than you do to wipe theirs (now that is a thought).
Reality is that even Microsoft does not claim that they wipe your device. If you read their own materials, Microsoft claims their message is wipe only the corporate data. Trouble is that all devices, iPhones, Androids and other, interpret the Microsoft command as wipe everything.