Texas misses several heavyweights, sure, but with a handful of top teams, that's probably par for the course. It would be unlikely, not to mention a bit unfair, if a team caught all of the tough teams. Texas gets UGA, and then as mentioned, several of the other teams are looking better than previously expected. Then there's the identity property....Texas is one of the teams other teams would prefer to avoid for an easier schedule, and since Texas can't play themselves, they have that much less of a chance of drawing a high number of the "elite" teams, because there's less of them when you are one of them.
Plus there's just a lot of teams in the league now, with only 8 conference games. Everyone misses a lot of other teams. I'm not so sure that the league is less tough than it was, as much as the good teams aren't as likely to show up on any one schedule.
Overall, I look at Texas' schedule similar to LSU's....favorable, but still can't be taken lightly. And since I think UT is a top team, I expect them to perform well against it. Which is what folks should be watching for. Not how good is the league or how many tough teams did UT draw.....rather, how do they do against the schedule they're given.
For LSU, I'd call 9-3 a win. For Texas, I think they can get through with 1 loss or less, and if they do, it's as much a signal of the quality of the team as much or more than a function of the schedule. Besides, if UT makes the SECCG and the playoffs, there'll be that many more tough games to judge the team by. If you do well there, then "they got an easy schedule" won't fly even with the homerest of homers.
Maybe.
One thing worth noting is Texas' schedule is full of old foes, and most everyone understands that throws regular SOS assessments out the window. OU, A&M and Arkansas aren't as good (I think) as Texas, but it should shock absolutely no one if any of them played out of their minds against Texas and either won or gave them all they wanted. It's really not an easy schedule, imo. Favorable, yes. Easy? Well, winning games is hard, so, no.