and the little dam creates a stronger low pressure area right behind it and that SUCKS air down and out of the engine compartment. it helps manage heat, but mostly to move the air along with as little damming effect as possible at highway speeds from the massive amounts of air being forced into the grill area, getting it back out is key to helping with highway ratings.
f150 has shutters to close off the grill area at speed and this pushes air around to the sides, over the top and bottom of truck. creating less drag from pressurizing air. towing and heat outside will also directly effect shutter opening to make sure engines stay cool.
next gen expy will also have shutters to close off grill and further help with highway MPG. is it huge? well in cafe ratings yes, even a 1-2 mpg increase is seen as a win. take a look at most of new cars air management. more and more have shutters to squeak every mpg gain as possible to meet regs.
but i am just an aviator and really dont know squat about aerodynamics, and i might have been over simply in my explanations.