Hi,
email field type is inherited from Joomla email field, so something like this is a bit dangerous.

Anyway there is a workaround to make this:
- Set email field to not show in profile page
- Create a field of type "HTML delimiter" called "Email" (alias should be "displayed_email", you can't create a field with alias "email" because it is already taken)
- Set field parameter like screenshot

Basically in profile page you show the HTML delimiter field type and not Email field; Email field is used only to add/edit email address in Edit Profile and Registration.

DOCS
- {user email raw displayed} return the clean email address (not a link), this come from our Content Plugin (http://docs.easy-profile.com/index.php/article/content-plugin)
- HTML delimiter field type add a field with a static content but it support also Joomla Content Plugins (http://docs.easy-profile.com/index.php/article/html-delimiter-field-type)