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Whats the purpose of that stemprotector(?)
It's not a stem protector, it's a testicle protector. Back in the olden days when anybody thought that bike was a good idea, there was also a prevalent concern that the sharp edges of the new-fangled AHead stems would do serious damage in the event of a crash. It was the same concern which drove the wedge-clamp stem designs such as the original Thomson among others.
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aka nard guard.
You can buy one here: https://hecklersalley.com/products/blackstar-bags-nard-guard