It could, but it could just as well be an NTSC converter. Since Macs have their own display, there's no native NTSC or PAL video capability. I have seen a few people who did user group demos all the time who had a TV projector, back before computer projectors were common, and they had scan converters to drive their displays. Usually external boxes, though some means of tapping the video signal inside the Mac was needed. We designed one at Beck-Tech called the Chromatron which drove a standard NTSC monitor in color from a 128K/512K or a Plus, but it was an external box with its own power supply. It had a 9-pin output to drive a standard IBM / Amiga TTL RGB monitor and a composite NTSC RCA output.
Since Apple][s used TV sets for displays, they had to have different circuitry for PAL and NTSC. Early Macs are unique, not compatible with NTSC, PAL, MDA, CGA, PGA, VGA or any other format.