Yes. I tried to play a few dynasty games to see how this works. I used NMSU and for the game against Idaho, it looked like the stadium was about 60-65% full at the start of the game.
However, the issue I have is when I played as NMSU visiting Ohio State. Ohio State's stadium was only 90-95% full. IRL it would be 100% full.
Having said that, this is MUCH better than prior years. way more realistic and engaging. I feel like I have to win to bring my fans to the stadium. Makes it more fun to build a dynasty.