I’m curious about the answer as well. I have a Chinese made titanium 1” stem that uses the same tall design with a single bolt down low. The look you are getting with the knurled spacers and that stem is cool.

If I understand your question correctly (or reading into it a little) I might think that you are concerned that the stem is not going to be secured tightly enough or reliably enough with that one bolt and that having a lower installation without the 2 spacers shown might be stronger?

I think you’re going to have to try it and hope it stays put. Does the single bolt give a torque spec?

Also, with any threadless stem it is a good idea to get a really good expansion plug. The longer the better. I have heard that Specialized makes a good one. Deda also makes a good one. When tightening the expansion plug in the stem I use a 3/8” T-bar socket with the correct size Allen bit then use both hands to tighten quite snug. I don’t use a torque wrench, but just go by feel. I also grease the bolt threads and the interior “ramps” on the expansion plug. Once it is tight you can then pre-load the stem with the top cap bolt. This bolt should also be greased. Again, I use my T-bar to tighten it with 2 hands and tighten the pre-load on the head cap bolt until the steering side to side becomes slightly tight.

PS - I guess you can disregard most of what I am saying here as the expansion plug info pertains to the use of a carbon steerer. Or don’t disregard it since the same principals would apply for if you are instead using a star nut in a steel steer tube.