Both terms originated amongst social media followers.
Many use animals to explain themselves. Wolves are monogamous & even lions, gorillas, & chimps, etc to degree as they're not fucking every female but ONLY those of their groups.
Guys & Girls - what is your definition of a so-called "High Value Man", what is your definition of a so called "Alpha Man" ?
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In relation to humans the "alpha" known in certain other species does not apply. This would be the leader of the pack who gets exclusive access to mate with all the females of the group. One of the other males will one day become a new alpha. Other males will also snatch an opportunity now and then to mate with a female while the alpha is not aware. This would be a "beta" strategy to still have offspring.
None of this is similar to humans. About 70% of human heterosexual males form lasting bonds with females and have intercourse. These are too many to all be alphas and they also have too few females (usually one).
In manosphere ideology, an alpha would be a man who can have easy access to sex with willing women attracting them solely with his physical appearance, personality and status without any commitment to a woman and without transferring resources (such as paying her or marrying her).
The trouble is that this behavior is not relevant to the large majority of the dating market. Only 10% of women are promiscuous at any time in their lives and only 5% are currently promiscuous at any time. The dating pool for these alphas is a quite restricted segment. Importantly, you do not have to be an alpha to have sex and offspring and due to their lack of commitment the "alphas" typically have even less offspring. So it's not adding up to anything relevant in reality.
A man that is respected by other men of value.
Degeneracy.