I don't see why not. Kentucky has not faced many top offensive teams. First one they faced in a long time was Notre Dame and we saw how that turned out. The line is only 5, so Vegas sees this as a pretty close game.
Watching Kentucky against Notre Dame, I didn't see an all-time great team on the floor. Maybe they'll go undefeated and if they do good for them. Regardless of how Cal runs things they appear to be good kids. That said, does anyone really think they'd be 38-0 right now after playing the ACC or Big Ten schedule? Not a chance.