Sure, "New Outlook" on Windows is still entirely broken (including stuff like, oh, re-ordering mailboxes), but on Mac it's actually quite usable, and even allows you to switch off the IMAP proxying.
Also laughing at our ops guys who are now absolutely helpless and have people phoning them. I warned about this on our risk call and it was seen as low probability low risk. I hope it's down for a few hours :)