Yeah, the main issue with this is that the North division would be terrible. Like, Georgia would have to be the team to go North between them and USC, but then they would have a ridiculously easy schedule, as well as having to pick between Auburn and Florida as their permanent cross-division opponent. One of those two yearly rivalries would go away.
Much more likely is that they eventually get rid of divisions and go with like four permanent opponents per team with the top two in the conference just playing in the SEC Championship at the end of the year. I think that might eventually actually happen.