Because elves DON'T HAVE beards. Never. And so you create a character who has a beard and IT's still called an elf - why?
Actualy ...
PrivateRaccoon got a good point.
As long as we will be creating pink haired Drows with green eyes and white skin ... and still call it a Drow.
As long as we will be creating beardless Dwarves with white Hair and skin black as night ... and still call them a Hill Dwarf.
People should be allowed to create bearded Elf ... and call it an Elf.
Its exactly the same deviation ... all or nothing! Same rules for everyone.