Not to me it doesn't! Guys can pull off being bald or even balding--doesn't matter, as long as you're not insecure about it. My guy is 36 and started balding around 30, or so. He shaves it, though when he let's it go for a few days, you can tell that he's balding naturally. It's never been a point against him though, and he gets women's attention...a lot.
Confidence and the way you carry yourself is really the key.