No, it doesn't. If you "grab" a point closer to yourself than the axis of rotation, then yes, it kind of acts like it should, but if you grab something far away then the rotation direction doesn't flip as it would in other software. This breaks the illusion that you're grabbing the model. It would probably be fine if they went with the opposite model ("grabbing the viewport"), as long as they kept it consistent, but they don't and it makes it feel out of place.