I'm a former AP employee and left to help launch a low-cost alternative (that failed). In a nutshell, nothing comes close to an AP in terms of feature breadth and technical specs. Of course, you may only a subset of the capabilities in which case there are many alternatives. For instance, an AP can handle 300 Vrms at the input. How often do you need that? If you need to test a high voltage load, you can always measure across a small sense resistor and convert your results. I wrote an article on this.
https://audioxpress.com/article/practical-test-measurement-attenuators-for-measurement
There are plenty of other features aside from specs that separated AP from the pack. This includes their breadth of digital interfaces (I2S, PDM, HDMI, etc) and their automation software and some really specialized measurements not commonly used in consumer gear. Their dominance is so strong that Rhode & Schwarz exited the audio business. Prism (Spectral) is a shell of its former self and I think the only reason Stanford still sells the product is to clear inventory. I have a friend that reps the brand and he tells me the SR1 gets no interest.
People that don't need all the hardware specs of an AP can still benefit from their 50+ man-years of software development by using APx-Flex. This allows their software to be used with the hardware of your choice. Echo Test & Measurement sells boxes that are compatible with this.