Exactly, and that's shown in this pic:
The larger the bubble, the higher the cumulative quality of players lost to injury. The raw number of man-games puts us in the bottom five, but the cumulative quality of lost players has us in the top ten, and we're still sitting at 8-3. Other than Baltimore, most teams with a bubble that large are sitting at 4-5 wins. Notice the small bubbles for the teams we've lost to and the teams with better, or equivalent, records. And neither stat factors in strength-of-schedule.
Stats without analysis aren't all that meaningful.