I believe in Chi, but I don't believe that Chi alone is the predominant reason why us fuckers are going bald. It may affect the timing of it, the significance of it, but the hormonal factors involved in male pattern baldness are pretty transparent and well proven.
In a nutshell, I think genetics and hormones cause male pattern baldness. But, I think that Chi might affect the triggering mechanisms that determine the time phasing of our progression along Norwood.
Framing this in a Western medicinal context, 'stress' accelerates the ageing process, some of which is hormonally driven. Perhaps the Eastern concept of minding your 'Chi' is a way of minding personal habits and lifestyle in a way that enhances personal 'essence' and increases personal hardiness and ability to deal with the 'stress' that is accelerating genetic ageing actions?