For the most part it does, the only difference in conference schedule is the permanent cross division opponent (Alabama-Tennessee, Texas A&M-South Carolina), and the rotating cross division opponent (Alabama-Vanderbilt, Texas A&M-Florida). There 6 other division games are all identical, they play each other and LSU, Ole Miss, Miss State, Auburn and Arkansas.
You're basically buying into the "Blue Bloods get ranked by their name" mentality because must not have looked Georgia's schedule, consisting of the SEC (L)East, Auburn and Miss St.