Certainly does. Sadly there is no "Stubble" assets (As far as I am aware) as artists tend to just paint stubble directly onto the skin. So we are left with small beards that just look weird and throw a perfectly decent set up off kilter. I probably won't use the beard again - I saw some one on discord ask for one.. One thing lead to another and et voila! Much prefer the matthew hair over the nick hair though.
Don't get me wrong, I would love a really good beard asset. I have a pretty good beard myself.
If I put one on, it will be a longer one.
There are some characters that have stubble etc... that looks pretty convincing, but you need to change the character's skin. There probably are some good add-ons for that, never bothered looking much. I have created A LOT of my own characters and I will look for a skin that has qualities like that, that is versatile.
Edit: As for stubble etc...
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seems to have promise. Allows you to add stubble, scars etc I guess (haven't used it much yet myself).