Yes, although their criteria are, like any ranking, undoubtedly a bit arbitrary, but nothing in the top 25 seems odd, and most schools you would expect to see are there. The inclusion of North Dakota State in the top 25 is telling - just read a bunch of articles about them in the local paper, as Arizona plays them tonight. Apparently, athletics there approaches a religion, they are expecting 10000 of their fans here in Tucson tonight.
Arizona is 40th, although still rated "A+". A factor is probably the fact that, certainly historically, men's basketball is really everything. There has been great success in Softball, Natty's in baseball and golf, women's soccer is doing very well these days, etc. But I don't think the student fan support is present for much except men's basketball, based on what I've seen. At football games students have historically baled at half time, regardless of the score.
Even Rutgers scored well, I have heard that student interest is up as RU has had some success in select sports. They ranked "A".