The problem that you have here is that the alternative requirements are lower than the actual requirements. Thus, the employer is not recruiting for its actual minimum requirements for the position. Most likely the position should have been listed as Bachelor's plus five with the Master's and no experience as an alternative. However, it also depends upon the SVP and Job Zone for the petition. Good chance it may get audited, but you never know.
While written by an attorney who is a Florida Bar Certified Specialist in Immigration and Nationality Law, the statements herein should not be construed as legal advice. No attorney/client relationship has been created without a formal consultation with the attorney and the attorney has agreed to accept your case.
Attorney Devore has provided you with an excelelnt comment to your posting. It is now necessary you contact your employer's attorney who is assisting with the PERM and get a explanation of their choice of action so you are prepared for a possoble audit.
Legal disclaimer: The statement above is provided by CC Abbott is based on general assistance and not intended to be a legal opinion because not all the facts are provided. The person requesting information and all others reading the answer should retain an attorney who is permitted by the state bar within the jurisdiction who can examine the complete facts and provide a legal opinion on your case. All information provided in the above answer and other information provided by CC Abbott does not create an attorney/client relationship within any state of Federal law.
It is the employer, not you, whose responsibility it is to comply with all requirements for visa certification. I suggest you present your questions to the employers immigratio attorney.
The employer's lawyer is suitably positioned to deal with compliance issues for the employer, discuss your concerns with the lawyer.