Looks like if you flip the stem it'll attach a little higher and cut down on the chimney. But it's not unusual to have a bit of extra steerer... I've lowered the bars another 2.5mm since, and am still looking to find my perfect position. While I'll cut the steerer at some point I don't think I'll cut it flush, although the integrated cockpit does make that very tempting aesthetically!
Nothing wrong with a little chimney! If by this time next year you still want to get rid of it, lop it off.