Scheduling and managing events using Outlook.com calendar
My understanding of the script is that it just automates fetching the .ics from Outlook and pushing it into a Google calendar.
It gets copied into and associated with the user's Google account and the user can turn it off or modify it at any time by going to https://script.google.com/.
As far as Google is concerned, it just looks like the user has written some script of their own, and they let the user maintain control over that script.
Also note that from a security standpoint, once you copy the script into your own Apps Script project, the original developer can't change it on you either (which is a good thing!).