Here are some best practices for optimizing Magento's product image alt tags for SEO:
Use descriptive alt tags: Use descriptive alt tags that accurately describe the image. Don't stuff them with keywords or use generic terms like "image" or "picture."
Use relevant keywords: Include relevant keywords in the alt tag, but don't overdo it. Use only a few keywords that describe the image accurately.
Keep it short: Keep the alt tag short and sweet. Aim for under 125 characters, including spaces.
Use hyphens: Use hyphens to separate words instead of underscores, as hyphens are preferred by search engines.
Avoid keyword stuffing: Don't stuff the alt tag with too many keywords. This can be seen as spammy and may negatively impact your SEO.
Use proper capitalization: Use proper capitalization for your alt tags. Don't use all caps or all lowercase.
Use alt tags for important images: Use alt tags for important images on your website, such as product images and logo.
Test your alt tags: Use tools such as Google's Structured Data Testing Tool to ensure that your alt tags are optimized correctly.