In all fairness to bureaucrats, the early seventies was a time when the government charged itself with imposing numerous, needed regulations on car makers in the perceived interest of safety. Some of these regulations worked out well, and some were just stupid. Consider seatbelts. Would you ride without one today? It wasn't until 1971 that shoulder belts were mandated by the bureaucrats, and the public outcry against them at the time was loud. The outcry against airbags was pretty intense as well, though there's a guy on the CSR currently selling two coupes because his wife says they don't have airbags.
Pollution controls and mandates were another bureaucratic maneuver, to which car makers, such as BMW, responded half-heartedly at first. Would car makers have built engines that don't pour so much particulate and gas into the air without bureaucratic intervention? Would BMW have even bothered with VANOS? Maybe, but it would have been slow. How about crumple zones? Some car makers worked with them in the fifties and sixties, but it wasn't until the seventies that they were mandated by the bureaucrats. Would you drive a car daily on the highway at seventy miles an hour with your kids without crumple zones?
Your coupe's suspension spacers were a band-aid attempt on BMW's part to meet equivocated bumper height requirements between all cars in the interest of safety -- to keep cars from riding atop one another and decapitating their occupants in collisions. It was a common event in the fifties and sixties. Today, the reason cars have long, sloped noses is not only in the interest of reducing drag, but in meeting government imposed mandates based on research about collisions with pedestrians.
'Course, this has all gone out the window as government has become more corrupt, and the most popular vehicle sold in the States (the F-150) does not have to meet any of these requirements. It's an evolving bureaucracy...