Is there a cheaper alternative to this:

NO

How about the JS-120 from JBL that are for their L-100 Classic speakers? Note they’d only save you around $50. Yes, look at Etsy. Or if you are handy and have woodworking equipment you could make some from wood that would do the job just fine.  Keep that 5° slant and the same distance from the floor to the woofer and you'd be set. (Figure they are using 1st reflections to enhance the bass maybe of the KLH Model 5). 

@grislybutter  oh, you mean your P3? Glad to hear it's still going strong.

Well I have a pair of KLH 5s and the stands came with them.

That being said I also have some other wooden stands that I bought on ebay that are custom made by an individual in Reno. If you type JBL 100 stands in the E bay search line, they should come up. They are $200 a pair and he sells them as stands for JBL 100s which is what I used them for. They are an attractive walnut, but  he works with many types of wood. They are angled and not as tall as the ones that came with the KLHs. That being said, with my usual listening position being seated on a couch in a slightly slumped position, they  sound as good or perhaps even better than the KLH stands.

@larsman The angle of the stand that they designed would have been  optimized to a certain listening position ( listener's ear level and distance from the speakers ) and sound presentation preference. However, room acoustics, system balance, and listener preference plays into  speaker position and I find you always have to play with angle, toe in, and so on to get the sound you like dialled in.

Check out Anchor Stands.  They do custom work at reasonable prices.