Well... Actually, this is one of these songs that could have fit on previous albums, to me...
I can easily hear Gabriel singing it (the big "Oh-Ohhhhh !" before the second verse and the bridge in the song, same as here, kind of : https://www.youtube.com/watch?v=efEEe2oGCUc , or just here https://youtu.be/1IanjpQoW54?t=224 , the laugh (Haha - Ha) could also be quite theatrical in a Gabrielesque way...
The guitar is very reminiscent of Hackett, I think (volume swells, vibrato effects at the beginning, and the solo at the end could easily be played by him).
Personally, I can't see it or rather hear it. Mama only happened because of the success of ITAT which was rejected by Genesis or at least by Tony, pretty much the same at that time. Yes, I know it was Mike's song but it was pretty much conceived with that arrangement and atmosphere in mind, drums machine driven, with Phil's drums sound kicking in, stripped down keyboards and spooky, eerie sounds, as such I can't really see it on any 5 or 4 man era album. I don't even need to invoke the missing members to back that up, there's no way Tony would have played it like that and held back that much for that matter on any album up until Duke.