Nothing prevents that the device is locked by you instead of the "store" or even that the device has a "safe" mode that has to be explicitly disabled by the user in a non obvious way like connecting the device to a computer and running a command or so.

The only important thing is for the bank, Netflix and co to not be able to discriminate. But again nothing would provide the bank to offer a setting for the user to restrict where it can use it's banking app if it was not discriminatory. But we know well where this goes, in the end if you don't enable it