There's a current (ground) path from the alt/bracket, though the bracket's mounting bolts (three of them AFIAK) and into the block (threaded bolts into threaded holes, drawn tightly). In addition, the brace might act as an notable current path.
Current will pass across all paths from the alternator to the engine block, but it will proportionately favor those of lower resistance.
I would be interested to see what sort of voltage drop occurs between the alternator case and engine block. I'm guessing it's "negligible", e.g., 10mV (0.010V) or less, but I should go out to the garage and measure it before I spout off too proudly.
A good voltmeter and a DC current clamp will tell interesting tales under the hood, some expected and... some not.