Not really, although it can do. Some makes of cameras, such as canon have model groupings and within each group the higher number is usually newer or better. But the relationship between groups themselves may not follow any reliable pattern.
So sticking with canon SLR cameras, a canon EOS 7D is better than an EOS 70D which is newer and therefore better than an EOS 60D, all of which are better than then an EOS 1200D. Except that as things advance the lower models get better than all the older ones.
I hope this makes sense, as to be honest looking at model numbers is not really very u