no, it is an alternative. the choice is supposed to be either donating $100 and not accepting the "challenge" or donating $10 and pouring ice water on yourself
and naturally, due to the way people seem to work, everyone ends up donating $10 (if anything)
It's not an alternative because either way, people end up donating money and if the choose to do the ice bucket challenge they raise awareness. Before this even happened awareness for ALS was limited. Sure, donating $100, not making a video of you pouring ice water on your head is okay thing to do, but it's not actually doing anything to get more people to donate money. The ALS Association has raised $41.8 million in donations from July 29 to August 21. That's more than double the donations they have gotten last year ($19.4 million). If people hadn't donated $10 dollars, poured a bucket of water on their heads and then challenged 3 people, that would not happen.
the point of the video is that people are, rather than donating 10 dollars, just pouring ice water on their heads to "raise awareness".
Well, that isn't how the challenge is suppose to work, but of course some people just want to get their 15 minutes of fame.