Rubbing alcohol is almost universally isopropyl alcohol. If it is ethyl alcohol, it is denatured alcohol, which basically has added toxins to deter people from drinking it. In either case, it is not the same as drinking alcohol. To extract vanillin, the cheap/easy way is to use vodka. But drinking enough vanilla extract to get drunk is going to be unpleasant, to say the least (I guess this somewhat means it is denatured alcohol). Also, it would cost a lot more than just buying the booze.
the price on real, pure vanilla, is prohibitive to kids actually trying to get drunk on it so i can't imagine anyone bothering to restrict it. plus try drinking some rofl. its only delicious when diluted in your food.
I'm an LPO and people steal the pure stuff all the time for the purpose of drinking it. People do strange things to get their fix when they have no money.
But I do not think extract tastes too bad.