Serious question, what gives with the SEC chants?

If you watched the end of the Kentucky/Ole Miss bball game last night, you could hear SEC, SEC, SEC... What the ???? Both Teams are SEC. And Kentucky is JV SEC in football. 

Yes, I know it's been discussed occasionally, but I really don't understand it. Why are people chanting and rooting for a conference? Nobody at an NFL game is chanting "NFC, NFC, NFC"... What is the point?

I asked this to a friend of mine who is a total SEC fanboy. So much so that he won't even say what team he roots for. His answer - "why wouldn't I pull for my conference to do well? It elevates the teams and brings in better recruits". I don't dispute that it can help recruiting and other teams, but is that really why people are chanting SEC and rooting for a conference?

\End rant