No, it cannot.
* Sign in without a Microsoft account
* Try to access the Microsoft store
* it ask for Microsoft account
THEN IT DELETES THE LOCAL ACCOUNT
It actually does a rename removes admin privileges, blocks access to LAN secured folders, and exposes you to losing access to your own computer when you Microsoft is hacked and your password is changed.
Actually it's worse that deleting your account because you can lose the ability to log into your computer.
Oddly enough, Windows 8 Pro works the way you describe, but my new installation of Windows 8.1 Pro screws things up. 8.1 is only safe for people that only use computers for online games.

