No, never use a paint-grade product if your end goal is to apply a clear coat and showcase the natural wood. This can lead to issues, and the upcharge to alder is not significant enough to justify the risk.
Paint-grade materials may include poplar, maple, or alder depending on the product. Maple veneers are most commonly used because they offer the best consistency and quality for the price. For solid wood components, alder or poplar is typically used, as they provide a good balance of cost and smoothness.