Ha, I think you're spot on! The album he released is a vulnerable album named after his late mother, throughout which he talks about getting divorced, being suicidal and many other issues he's having, but some songs are FULL of his usual bravado (he literally says 'I could give a dollar to every person on Earth' at one point), as a kind of self defence or fronting to save face. He supposedly struggles with bipolar disorder, but he has refuted this once or twice and blamed sleep deprivation so no one is too sure.

Interestingly, he recently said in a song that he has been wearing a certain pair of boots CONSTANTLY for a week or so, even in the shower, and he has spoken about his love for fashion being a part of what pushed him towards music in the first place, so I feel like you're right and the clothing is a kind of protection. The mask and the spikes are to scare people off, not out of aggression but fear over what they may do to him. A great perspective!