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I don't agree with this, but even taken at face value you also have to consider that a big stack of spacers also looks bad, so it becomes a choice between two aesthetic evils. Since no spacers and a stem which goes in a straight line from the upper headset bearing to the bars is the better engineered solution, I'll take an 'ugly' rising stem over an equally ugly stack of spacers every time.

One less spacer, a -17 degree stem and some shallower drop bars would have been my choice for aesthetics