I can see where one's perception of where his chin is definitely gives him a advantage. I don't think it provides him any padding however. If you get his in the back of the head, or the side for that matter and you have a head full of hair, that shit is still going to hurt.

As far as him being able to keep it, IDK. In boxing I can't say I've seen any fighters with a beard like his, but I don't know if that's by choice or a rule. If you think about it, instead of a fist just glancing off of his face, it's going to kinda stick there given the rough surface. Fighters tend to use vaseline to help punches (gloves) slip off of the face so seems logical that with the facial hair, the one who has it is probably at a disadvantage. With that being said, i guess you have to decide... better to "hide" your chin and hope you don't take too many square punches on it, or expose it and hope the punches glance it / slide by.