Yes, it does. But the thing is that, Santana dharma consists not of a single philosophy or doctrine but it is composed of many others. If you don't already known, then you will find it interesting that there is Vaisesika School of thought which says objects are composed of atoms.
Like modern science that school of thought categories visible objects like earth, water, etc. as bhutas and states that they are reducible to atoms. It holds atoms as the fundamental units of the universe which combine with each other impelled by an invisible force (adrushta) to form the visible word. Please see padartha in the Vaisesika School of thought and you will find substances that are differentiated from soul.
Apart from that school of thought, also in Vedanta energies of God are classified into two categories known as jiva and maya. Between these two maya or nature is accepted as the inert energy which has no life of its own and the visible world is only the product of this maya. A verse of Gita explains it breifly:
bhūmir āpo ’nalo vāyuḥ khaṁ mano buddhir eva ca
ahaṅkāra itīyaṁ me bhinnā prakṛtir aṣṭadhā
apareyam itas tv anyāṁ prakṛtiṁ viddhi me parām
jīva-bhūtāṁ mahā-bāho yayedaṁ dhāryate jagat [BG - 7.4,5]
Earth, water, ﬁre, air, ether, mind, intelligence and false ego – all together these eight constitute My separated material energies. Besides these, O mighty-armed Arjuna, there is another, superior energy of Mine, which comprises the living entities who are exploiting the resources of this material, inferior nature.
So Santana dharma does classify and discriminate between objects having life and not. But people worship sun, water, etc as the visible form of gods present in heaven realms. Due to inter mixture of many beliefs, thoughts and philosophies the distinction has become unclear.