To start, the "Western Alliance" has a huge, gaping, F-111/A-6 sized hole in its Air Forces, something that can carry 2-4 JASSM class missiles >1000 mi unrefueled. Imagine how much more damage the IAF could have done if it could carry a meaningful bomb-load to Iran?
This aircraft need not be exceptionally stealthy, if it only needs to launch stand-off cruise missiles from outside the main defended area. In fact, the high potential for rapid development in low-cost cruise missiles (Anduril Barracuda, among others) means the cost over an entire campaign may be acceptably low.
The trade is now low-stealth (forward hemisphere?) airframe with lower-cost standoff (Anduril Barracuda and similar missiles, Castelion air-launched hypersonic strike) versus all-aspect penetrating stealth aircraft, which likely have to launch stand-off strike anyway, albeit from a much shorter distance.
I could see someone arguing "why not both?" so long as the hypothetical non-stealthy version is substantially cheaper.
If the budget line item reflects a real program, then maybe someone has realized that there is room for something like this. Also, being less stealth, it should be easier to develop and have more room for upgrades throughout its lifespan.
That's also why it won't be the X-47B, as that isn't sized for carrying cruise missiles. Now I think X-47B ought to be resurrected for long-range reconnaissance/strike, but not for this mission.