Yes I think that it is. The only unlined are the AE Daltons and the Alden Captoe Boot they are the only ones that I can compare directly using on the the thickness of the shell.
With that said, my AE shell shoes (somewhere around 10 pair) are all consistent in the way the shell feels. Same thing with my Aldens. I actually think that AE and Alden are close in terms of quality. Almost all my AE shoes are dressier (with the exception of some boots) and all of my Aldens are casual. I prefer Alden for casual styles.
My Carmina shoes are quite obviously built at a higher quality than both AE and Alden and the price reflects this. I do have more AE's than anything else.