Well kind of, though it's not meant to be a protection for accidental clicks. I think it's simply more convenient - disabling an account with one click instead of multiple (disable push, disable sync, disable smart inbox for that account, etc.). During my first days with AquaMail I was looking for the disable option and after not finding it I was asking myself - "do I have to delete the account to get rid of business"? Personally I'd love to have such an option during vacation where I don't want to be disturbed by business mail but still want to receive private mail on the other account.