The PRESENCE of Led Zeppelin

 My view is that the OBJECT is a demonic presence, black and twisted, as was Led Zeppelin.  The only one who did not partake in Page's black magic was John Paul Jones, who was relatively unaffected by their dances with demons.

So the designers of the object don't know what it means. Sounds like another piece of chanelled material.

Zeppelin named the album ‘Presence’ after seeing the design

The front cover of Led Zeppelin’s 1976 album, ‘Presence’ | RhinoHipgnosis, the design firm behind the Houses of the Holy cover, also got the contract for Zep’s sixth studio album. On this occasion, the band came up with the title Presence after seeing the images that graced the front/back covers and gatefold.

In each of the 10 images, you find 1950s suburban, middle-class figures at work or play, all of them contemplating a black object. This object neither casts a shadow nor reflects any light back from it. In a word, “The Object” has a commanding presence.

According to Aubrey Powell, one of the chief designers, The Object was “obtuse and bizarre, and it suited Led Zeppelin.” As far as the meaning behind it, he couldn’t say for sure. But the members of the band clearly liked it enough to keep it                                                                                                                                                                                                                        When reporters contacted Zeppelin’s press department to ask about it, they learned that no one there could answer their questions, either. Storm Thorgerson, who co-designed it with Powell, suggested the hard-to-define object had a lot in common with the band.

The black object could represent Zep’s place in rock — and society

“Led Zeppelin” arrives for the premiere of their concert film “The Song Remains The Same” on October 21, 1976. | Michael Ochs Archives/Getty Images                                                                                                                                                       According to designer Thorgerson, the black object can represent just about any strong presence. “The black object stands as being as powerful as one’s imagination cares it to be,” he told Dave Lewis. “We felt Zeppelin could rightfully feel the same way about themselves in the world of rock music.”

Like Zeppelin, The Object commands attention and scrutiny yet yields no clear answers. “Those people were trying to discover what The Object was — and how its presence is felt,” Thorgerson said. “I think the whole sleeve concept was very appropriate for Zeppelin — a very powerful band, musically and socially.”

https://www.cheatsheet.com/entertainment/what-led-zeppelin-was-thinking-with-the-bizarre-presence-album-cover.html/

This is Bonham telling the story of his  wife throwing out "the object" when their tape recorder picked up voices from it.