A single franchise? No.
They need more than one franchise to sell the PS4, and they have got it. I somehow doubt that they will want to release several great franchises at launch though. People don't want to experience a drought after release. (An issue that Nintendo counters by simply not releasing all finished games at once.)
All in all, I would say the PS4's success is mainly depending on Sony's ability to make new IP's and maintain their third party support. Their current big IP's alone are not sufficient.