It's just fixed bias. Could have done the same thing by putting an equal but negative voltage on the grid.
Well, altogether it's not
just fixed bias. But yes, Bogen could have done the same thing with a (-)bias on the gird. Altogether, it's mixed bias -- part cathode bias + part fixed bias. For DC operation: with 240V B+ > 220K plate resistor > 12ax7 plate, we could to guesstimate maybe a 3K cathode resistor to get the cathode (+) enough for the grid. But Bogen's cathode resistor values seem well under 800R (hard to read). That's hot bias. For colder bias with small K
r, either : a) inject a negative fixed bias voltage on the grid (as sluckey says); or B) inject a (+) voltage on the cathode. So, now Bogen hits it's
DC operating point.
AC (signal) Operation: Frequency response of the circuit is affected by this choice. The value of the cathode resistor acts in conjunction with the (plate impedance║plate resistor, etc.) to affect frequency response. So this circuit will
sound different than the pure cathode bias we usually see, because the different value cathode resistor changes the AC response of the circuit.
Try it and see if you like the stock tone circuit. If not, maybe a James or baxendall as cooked-up by Geezer & Tubenit is worth a try.