Good reason you don't see many is that it's not legal to block off any part of the headlight or indicator beam. If your car stands out then expect to get done for it at some point.
A few years back in QLD there was a big craze on it. Wasn't so bad for people that did it with vinyl, but plenty of honda owners bought kits designed that way, which meant a big waste of money for them when they started getting fines and having to change the front bar again.
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