Here is Faces' live performance of that song.
The bass player plays with the pick a constant (almost) 8th note pulse (including ghost notes) during (that fast) Intro.
Yeah it's interesting that his right hand is moving eighth notes but what he's playing is not just that. All the work is in the left hand? He's playing pretty much the same line that's on the record in that intro (and throughout) but at a more reasonable tempo