I've watched a few close friends also go on and off cycle. I don't bloat much at all, and some do on the same exact dose. It changes your look. Not talking about teens here though...
From my experience, I think bloat is where people get the temporary aging effect. Along with bloat, your jaw muscles all the way up to your temples definitely become larger. When you're very lean, this gives a masculine look. If you're puffy, this can easily give the impression of moon face, Stallone face, or whatever you call it. Once you get into your 30s and 40s where the majority of people aren't fit, this largely goes away.
Imo the people that say it doesn't effect personality are just not in tune enough to notice. This is the bigger portion to me. People act more mature, confident, like a dick, etc depending on the person. All of these effects net out to a perceived "acting older." Especially when you're young. People notice this.