The reason you shouldn't freeze bacon is because of the high fat content in the bacon when frozen can lead to a rancid taste developing in the bacon.
This is especially more true if the package of bacon is opened or is not properly wrapped before being frozen and causes the bacon to decline in quality as time goes by.
Freezing the entire package of bacon can also make it difficult to use just a couple of slices of the bacon at a time as it will freeze into a solid block.
You can freeze bacon though although it's not recommended but if you want to keep the bacon longer than a few days or so you should freeze it.
The frozen bacon will remain safe to eat even if it develops a rancid taste although it may not be as enjoyable.
Bacon does freeze pretty well though when frozen in the package or sealed in another package or freezer bag once opened.
Freezing bacon is safe although the bacon's quality declines over time the longer it's frozen.
Freezing your bacon at 0 F or below keeps the bacon safe to eat indefinitely and the freezing temperatures also inactivates the microbes such as yeasts, molds and bacteria.