My 'public' email address is uninvolved (at) outlook (dot) com. I use that address for a lot of things.
I get surprisingly little spam and scam attempts. MSFT is surprisingly good at filtering that out.
So, credit where credit is due, they're not bad at keeping junk from my inbox. I think they might be even better than Gmail.
And if I'm giving credit where it is due, as far as I know, they've never lost my data due to compromised infrastructure. As far as I know, they don't sell my data. They will, like Google, sell it in aggregate. Meaning, 'this person has this history, so it's worth advertising these products to someone in that location, of that gender, and of that age'.
Which, frankly, I begrudgingly accept. Though it does amuse me when I see promotions for stuff I recently purchased (usually at sites like Amazon, as I heavily block ads at most sites). I already bought one. Why the heck would you try to sell me another one?!?
It must be effective, as they've been doing it for years. I'm not sure who it is that's making it effective, but they'll have a whole lot of data backing up their ad infrastructure.
At any rate, always make sure you are on the right site before entering your credentials. If need be, go to the site directly via your address bar to log in. Never trust an email sender further than you can throw them. Always make sure the links are valid.