I think it definitely was worse. There have always been 2-3 elite teams, but in the 90s there were 2 elite teams, maybe 1 team that was pretty good (like Donnan's UGA teams, or occasionally Auburn), then the rest were garbage. South Carolina/UK/Vandy/OM/Miss St/LSU were virtually MIA during the 90s - all were worse than they have been in more recent times. The most shocking team in that list is LSU. It is wild to me how they truly got their act together as a program for the first time in history when they hired Saban - it's such a recent development for a program that you'd think would have been good forever.
Not this year, but it seems like since the late 2000s in the SEC there are a couple of elite teams, a handful of solid teams, some mediocre teams, and just a couple who are garbage.