It certainly could, and I thought about that, as well.
For me, it would have entailed going in and checking completion and interception percentages for the various college quarterbacks in my league (I have a 14-team college league and a 4-team pro league). But it's tough with college with all the different teams and measuring level of competition, so I skipped it.
I went against it for my pro league, because I'm using 1973 rosters (the year I was born), so in some cases, I never saw the quarterbacks play.
Originally, I had one more dice rolls for incompletions, but then I was missing more passes than I expected on the TTQB throws, so I took one dice roll off. All things being equal, quarterbacks should complete 55-65% of their passes, which works for me.
Ed
