It is just designed to fly off or crumple in a crash, like the vanity panel is. The crash structure starts way further back.
It's unlikely to cause any damage to anything.
Wrong. The nose is structural and designed to absorb energy just like the current noses.
Just to be clear, that penis sticking out the front is not an extension on the length of the nose. The noses are the same length as the current noses, but the end of them is allowed to be narrower. Teams could taper the nose so that the transition isn't as abrupt as that image.
The nose will need to serve the same crash structure purpose as the current nose, so they most definitely won't be thin and designed to fly off.