I get it, and I don’t blame anyone for that choice. I made mine based on utility, convenience, and knowledge of the tool for me. I don’t care how convenient it makes things for work. They’ll give me a phone if it’s that convenient for them. But I’m not qualified to make that decision for anyone else.
I shot a message to a colleague who is still in IT (I’m into other shit these days) and he says you’re correct. IOS doesn’t allow for this. The IT department running Mobile Device Management would have to set up Mobile App Management (MAM) on their side. So it’s possible that they only get access to those apps without giving them access to the whole device but a lot of lazy departments won’t do it.