Except this is not a mod, this is a console debugging command. All console commands are. It was never intended to be used for actual game mechanics, only to debug them. It does exactly what it needs to do, which is alter the scale of models in a game. It should never do more or less than that.
The fact that the camera adjusted itself back in Oblivion was a coincedence, a fluke if you will. Most likely caused by the camera back then calculating its position relative to the player model. Most likely they took this out in the new engine because it used up too much memory, having to calculate the position each time, and instead gave the camera a fixed position. It could have been completely unrelated to the console command. Because, again, debug commands should only ever do one thing and one thing only, otherwise their debugging purpose is lost.
That was made clear a number of posts ago.....
I'll say it again, That post is about
A MOD, that post was NEVER about the console commands.
Off-topic of the Fallout post (Since I apparently need to be as clear as speaking to 5 year olds on these forums): See a post I made a few moments ago about the first person camera mod for oblivion that changes it to a glorified third person camera. Since Skyrim will lower the camera with First Person setscale, if that Oblivion mod was ported to Skyrim, then it stands to reason that if you use setscale in Skyrim to lower your character in first person, then apply said mod, it should work.