Does deleting all data get rid of restrictions on a iPhone 4?

Deleting all data on an iphone 4 through a factory reset will remove personal data and settings, but it won't bypass restrictions set by a passcode or any activation lock. If the device is linked to an Apple ID with Find My iphone enabled, you'll still need that Apple ID credentials to reactivate the phone. To fully remove restrictions, you'd need to know the passcode or Apple ID associated with the device.