I'd rather look good both ways but we can't have it all.
To me beards represent more of a white mans look that even the olive skinned Greeks, Spanish and otherwise better looking clean shaven exotic men can't pull off nearly as well.
Of course this doesn't apply to everyone but it's a general rule of thumb.
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I agree with the Olive skinned Greek comment. They can look good with literally any look! Some Italians too!