I believe that "--preserve-root" applies only to / itself. That means `rm -rf /*` will expand to `rm -rf /bin /dev /etc /lib ...` and delete all anyway.
`echo /* `: /bin /dev /etc /lib ...
`echo /*/`: /bin/ /dev/ /etc/ /lib/ ...
`echo "/*"`: /*
`echo "/*/"`: /*/
If you try it with `ls`, you'll find that `ls "/* "` results in `ls: "/* ": no such file or directory`.Edit: Formatting.