Ford wanted it to be a do-all kind of Utility Vehicle.
Those two holes in your front grille are for a plate too, when you're running around with a snow-plow, winch, or front-mounted auger or other tool, instead of a bumper.
Earlies (up to about '69 or '70?) had the loop and latch so the windshield could stay folded down for use as a work truck, expedition vehicle, hunting rig (when it was legal to shoot from the truck), and probably even with some kind of crane thingy hanging over the front!
The tailgate was expected to be put down for lots of uses, like was said, with such a small bed. Lots of big hydraulic and/or PTO augers, bucket scoops hanging out the back, back in the day.
That's why the early models (don't know if all years had it) even had a bracket on the passenger side rear fender so you could lock the swing-away spare tire carrier all the way open and drive around with the tailgate down.
And with the license plate folded "up" of course!
Paul