Does ethanol have anticonvulsant effects and can it hypothetically be used for that purpose?

No: Ethanol and all alcohols are central nervous system depressants not medications. Using alcohol to excess will lead to impairment of brain functions and in more serious cases may even result in death.

Do not expect result: Ethanol is within the sedative tranquilizer class, and would not have duration of action to provide any sort of anticonvulsant coverage, and to make things far worse, in susceptible people can actually cause seizures during intoxication, and also if steady imbiber stops precipitously. No hypothetical here. Don't accept all you see on the internet.