This particular rendition of Helvetica is notable as it's a lot easier to read and has some departures from the original Helvetica as it's based on Helvetica Light (which was created by a different typographer). The Helvetica IBM uses is a crossover between Helvetica Light and Helvetica Rounded, but not exactly the same as either. IBM even used this font on some Personal System/2 documents as shown here:

What's confusing is that they switch from this unique Helvetica to Helvetica Regular in documentation from the period. And because I am certain it's not a priority for anyone to pay attention how many times IBM rapidly jumps through Helvetica variations, it's subtle at times. Not to mention IBM later flat out adopted Helvetica Regular on subsequent keyboards after the Model M--but kept the special characters and arrow keys. Sadly, they dropped the cool Model M / F thin-tailed shift arrows in favour of conventional ones.
First here's an example of IBM's Helvetica (bottom) versus plain regular Helvetica (top) Unicomp uses:

It's bolder and has prominent edges, whereas IBM's variant is very rounded off. You can see how much attention to detail was put on the Model M, the original team even customized the spacing between the lettering for optimum visual readability: whereas Unicomp (and even IBM's modern keyboards) just used the default character spacing you find with Helvetica Regular.
I've attempted a somewhat similar effect by using Helvetica Light and applying a 'rounded' outline to achieve more boldness and roundness. While pretty close the ratios are still off as they're baked into the font (has nothing to do with how it's printed on either paper or key caps). I then attempted with Helvetica Rounded and while that's more along the lines of what we're trying to achieve, it's a little bit too bold and squashed vertically for some reason, therefore my last mimic key attempted to stretch Helvetica Rounded out a bit.

Top shift has been placed off-centered to mimic Unicomp's uneven printing as a joke
It would be cool if anyone had any more information than I was able to dig up--it's possible this is a documented form of Helvetica.
Now that I recall... "IBM Helvetica" was included in some of their operating systems as a default system font. However, none of them have that soft roundness. It should be possible to recreate The Model F/M "Helvetica" based on more scans of documents with it and references.
Why does it matter? I'd have to say it's my favourite variant of Helvetica, and I definitely prefer it over some of the more visually 'busy' fan made prints:
