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Hey there, sorry to point out that the other post is wrong. 'Alarming as it may seem' actually has a different meaning!!!
{Adjective + as + Noun +Verb} is actually an INVERSION sentence pattern. People generally use the word 'though' to replace 'as' too.
So, 'alarming as it may seem' = 'alarming THOUGH it may seem' = 'THOUGH it may seem alarming'
E.g.
Original sentence:
Though he looks attractive, he is gay.
You may also say:
1. Attractive though he looks, he is gay.
2. Attractive as he looks, he is gay.
ALL 3 SENTENCES CARRY THE SAME MEANING. In grammatical sense this is inversion.