This is bullshit. I own my device, and this kind of management shouldn't be possible on devices that I own.
Can I run some sort of VM or a sandbox to make the server think they're MDMing my whole phone? I should be able to feed them enough garbage to keep the other end happy, right? If IT wants to be able to remote wipe my phone, they can remote wipe my VM instead. Anything less would be absurd.