  We consider a model of Parisi where a single particle hops on an
infinite-dimensional hypercube, under the influence of a uniform but disordered
magnetic flux. We reinterpret the hypercube as the Fock-space graph of a
many-body Hamiltonian and the flux as a frustration of the return amplitudes in
Fock space. We will identify the set of observables that have the same
correlation functions as the double-scaled Sachdev-Ye-Kitaev (DS-SYK) model,
and hence the hypercube model is an equally good quantum model for
near-AdS$_2$/near-CFT$_{1}$ (NAdS$_2$/NCFT$_1$) holography. Unlike the SYK
model, the hypercube Hamiltonian is not $p$ local. Instead, the SYK model can
be understood as a Fock-space model with similar frustrations. Hence we propose
this type of Fock-space frustration as the broader characterization for
NAdS$_2$/NCFT$_1$ microscopics, which encompasses the hypercube and the DS-SYK
models as two specific examples. We then speculate on the possible origin of
such frustrations.
