As someone who has also recently moved from vainly trying to maintain a thinning hairstyle to buzz-cutting, I really do get where you're at.
> I'm sorry but I completely disagree with the folks that are saying to just shave it off and that the "only person worrying about your hair is you". That is completely untrue, especially in our society today.
I think it's partially true, but maybe more true than you're allowing yourself to believe right now.
> Being a relatively above-average individual in terms of my looks, losing my hair has definitely made me lose a lot more attention from women. Not to mention my confidence has gone straight down the drain and I find it hard to focus on other aspects of my life like my work and hobbies.
Read that paragraph you wrote again. What jumps out at me is "losing my hair has definitely made me lose a lot more attention from women. Not to mention my confidence has gone straight down the drain".
So let me offer a couple of hypotheses:
1. You're right that you've lost attention from women, but you're wrong about the reason: maybe a lot of it is down to your loss of confidence, rather than your loss of hair?
2. You're wrong that you've lost attention from women, but you've already decided (in your current psychological situation, lacking confidence) that you will do, and so you're looking for confirmation of this, and are misinterpreting various pieces of data? (Conformation bias can be strong and compelling.)
While hair vs. no hair may be a factor in how attractive people are considered, it's only one factor. There are lots of others (not least, confidence, as mentioned, also face, build, height, skin condition, tan, clothing, behaviour, belongings, hobbies, intelligence, humour, conversation... the list is endless) which would explain how people who might lack one obvious aspect (e.g. height, or hair) can still be very successful at attracting the opposite sex.