The Shaft Tip is not directed Downward. The Hosel is Directed Upward. We swing the COG of the Clubhead and the COG of the Clubhead stays on Orbit. In other words, the shaft is complying with the pull of centrifugal force on the center of gravity of the clubhead.
Hinging doesn't close the face, the pivot closes the face. Hinging determines which of the 3 associated Planes the Clubface is aligned with while rotating through the Impact Interval.