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That's nothing new. My '94 F150 has virtually the same thing and I'm sure those have been around longer than that.
Likely not much for ram air action going on there. I think the biggies would be cool air intake, and it's a nice "clean" location i.e. it's enough of a pressure zone, high up, and ahead of what the tires kick up, to stay out of more moisture and dust. The F150 is the one I've bragged about where I finally changed the factory air filter out at 12 years old and 80,000 miles, not because I had to (it still looked clean) but out of sheer guilt.
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