Yes. Generally kept in a garage or other place away from the kitchen. Beer is bought in bulk and kept cold for parties. It is just a cheap fridge without any bells and whistles. It is a real thing in much of the US.

Yes, very common in the US. Often an older fridge that was moved to the garage or basement when the kitchen was remodeled. Sometimes a dedicated smaller fridge somewhere in the kitchen or living space - often also has wine, cheese, etc alongside the beer, depending on owner's preferences.