I live in Asia, Japan, where there are very few bald men other than Buddhist monks due to the lower percentage of male pattern balding, and the prevalence of weaves.
Due to the lower prevalence of balding people in Asian and among Asians everywhere, I think it more likely that one will be labelled as "the bald guy." I think that a lot of the time in the West the fact that someone guy is bald may not be all that noticeable facet of their appearance. For instance Vin Diesel is the guy with the deep voice, and I had to check that 'yeah he does also happened to be bald." With a low incidence in the population, or ones own race, it is more likely that this will be a defining characteristic.
In the past here in Japan the standards haircut for men was to shave the top of ones head so that everyone, from young to old, had a male pattern baldness haircut. I think that they did this so that no one felt excluded or stereotyped.
But I don't believe it looks any worse, and it does not look bad. I think that Asians look fine bald, or no worse than those of any other race. Mokkun (image) looked cool bald.

Masahiro Nakai was
said to look cool with very short hair

(better than he usually looks if you ask me).
Anyway, I think it is important to distinguish rare from bad. If you can do that, then the rest is easy, because bald looks okay.