POODLE is MITM attack exploited when the client & server use a CBC cipher during an SSLv3 session. What makes this more dangerous is that the MITM can force the client & server to use SSLv3 even if they both support TLS (and would normally negotiate a TLS session) through another "attack". For applications that don't currently support disabling SSLv3, a very temporary workaround would be to disable all CBC ciphers in the application. While RC4 isn't impervious to attacks either, as I said, it's temporary.
So what you're saying is true. If Serv-U is configured in this manner and the client attempting to connect doesn't allow RC4, then the negotiation will fail.