I came across a funny interview where Jonathan Frakes was describing how much Gene Roddenberry and some of the other production staff liked his decision to grow a beard, since it would clearly prove beneficial to the show. Frakes apparently grew it mainly because it was easier than shaving (a sentiment I can appreciate ), and was amused some years later that it become something of a positive meme.
I always enjoyed the beard. As an adult, when I decided to grow one, I went around telling people I finally went for the "full Riker."
The beard does give him a more "command look", good addition. Somehow on season 1 without the beard he feels less like an authority figure, probably because we've seen him with the beard a lot more often than without.
It's somewhat funny how the mirror universe arguably got an early version, in the sense that pretty much everyone agrees giving Mirror Spock a beard made him awesome.
I prefer bearded Riker, some guys just suit a beard better. Anyone who thinks having one is easier than shaving though, needs their head looking at.