The abundance of bamboo made it popular among the lower classes, as a cost-effective and more easily portable alternative to the more luxurious huanghuali furniture. This rare stool would have been commissioned by a wealthy family, attracted to the humble origins of bamboo furniture, but seeking the luxury and status associated with precious huanghuali.
Compare a similar pair of bamboo-inspired stools, dating to the late 16th-early 17th century, in the Lu Ming Shi Collection, illustrated by Grace Wu Bruce, Living With Ming - The Lu Ming Shi Collection, Philippe De Backer, 2000, pp. 78-9, no. 13. A very similar stool, of comparable size, in the collection of Messrs. Robert and William Drummond, is illustrated by Gustav Ecke, Chinese Domestic Furniture, Rutland and Tokyo, 1962, p. 97, fig. 77. See, also, a pair sold at Christie's New York, 18-19 September 2014, lot 1124.
Refer to Ronald W. Longsdorf, "Chinese Bamboo Furniture, Its Influence on Hardwood Furniture Design", Orientations, January 1994, pp. 76-83, where the author discusses the features of bamboo furniture carried over to hardwood forms, such as rounded members, 'wrap-around' stretchers, 'stacked' stretchers and the use of closely placed vertical struts.