There should be an edge band around the top, with no exposed plys. The proportions and bolt layout don't look bad, but veneer appears to be chipping from the legs. If the legs are plywood, the stool is not Aalto. The real deal will have legs made from bent solid wood, with splines at the 'knees'.
Thanks, that is what confused me, some that are attributed to Aalto have visible plywood on the legs and top.
eg. http://www.okayart.com/en/product/a-pair-of-alvar-aalto-ancient-stools/
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