It's a real something, but not Alembic. It's possible someone that used to work here made it, but it certainly was not "developed in conjunction with Alembic sound"
Dad's comments were amusing:
I have never seen this before.
I would never use cheap meters or knobs like that.
That's not how we dealt with the anti-rotation tabs on the potentiometers.
Transformer on the exterior? No.
Nice piano hinge.
I'll add that the font is not what we ever used for our products, whether one-off, short-run, or full production. I can also see lots of clues in the wire dressing that reveal is wasn't something we made here. Also, I can't think of one electronic product that was made here that didn't bear the name ALEMBIC on it - usually on the back and almost always would include the city we were located in when it was made.