The other side is pretty much the same. Notice how you can see right through the nose. It has no septum! The big nostrils plus a big olfactory lobe contribute to the turkey vulture's good sense of smell, which is uncommon among birds; it helps them locate the carrion they eat. Click to enlarge.
Grooming a feather. Keeping clean.
The red featherless face might not look great to us, but it makes it easier to clean up after sticking one's head inside carrion.