I think it's often assumed that women are attracted to alpha men in preference to being attracted to other men, but I'm not sure the evidence supports this. I suspect this is more because the alpha man brags about his conquests and displays his women as trophies with him in public settings. To me these behaviours indicate insecurity not success.
The man laughing at the alpha male is also displaying weakness in my view. The truly strong man isn't even there in this scenario, because he's doing something of greater value with his time, whether that is more genuine socialising, listening to others, voluntary work or studying or research, so he is contributing to society or becoming able to contribute better in the future.
This debate is originally about the pecking order among males showing off in a bar. Women don't show off in such ways in a bar group of women. An alpha female will own expensive accessories such as handbags or shoes, and maybe have the perfect body or brag about her new boyfriend. Again she is trying to show that her life is perfect, and again the inner insecurity is covered by pride.
By contrast the truly confident woman doesn't need to prove her worth using accessories, externals or her alpha male type boyfriend. She is listening properly to her friend who needs to unload grief or anxiety, she is quietly paying for the drinks of those she knows struggle to afford to buy their own and she is paying gentle and true compliments to the insecure females.
It goes without saying that a truly confident man or woman doesn't need to prove their worth through sex; the alpha types are more likely to be promiscuous, in my view.