They might get better as the season goes on, but they have a number of transfers and we know first hand how that works out.
They dominated their AAC opponents but lost convincingly to every P4 they played last year. Statistically one of the best teams in FCS, but their stats against P4 opponents show a paper tiger.
They are well-coached so it's possible SMU will be better in 2024 but my hunch is they will not be immune to the typical struggles of a G5 moving up, even in the ACC.