You are probably correct. I'm sure plenty of people fly the flag just thinking it means "southern pride" because that's what all the people around them claim it means. I had a friend in high school patch her pants with the Confederate flag thinking it represented being a rebel. I didn't learn for years what it actually meant, and realized we were strolling around looking like white supremacists with her in those damn pants.

That being said, the flag definitely represents racism, and I assume most Confederate flying people are racist to some degree. Even if they claims it's just conservative or southern pride, those demographics often have strong racist undertones. At the very least, they are ignorant.