Not only they can see it all, they can choose to wipe it all at any time. Some goofball can lose their laptop in a coffee shop and corporate decides better safe than sorry, and then oops there goes all your pictures of your baby. Or your blood sugar measurements, or whatever else.

You're absolutely correct- any device that work expects you to do work on, should be bought and paid for by them.

(And I'm sorry, but "profiles" do not cut the mustard.)