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Nah

As someone mentioned it would be hard to implement the same functionality with sony IPs, Nintendo have 2 massive platforms (mario Kart/Smash Bros) and a tons of cute, silly or arcadey IPs where the tacked on costumed and skills make sense. Sonys biggest Ips are Uncharted, God of War, Grand Turismo etc. How is a Jak and Daxter figurine going to fit in with those titles?

Beyond that sony doesn't have the right brand image to pull it off imo, Nintendo's heart and soul is its characters, warmth and nostalgia. It also has the massively cross IP games (mario Kart/Smash... again) to introduce and make people care about characters who'm they never before knew existed. I didn't know or care of Samus, Marth or Captain Falcon until smash bros.

Maybe if sony was team team up with a third party like Square Enix that might work , but SE are a successful publisher they wouldn't need sonys assistence

Edit: Infact sonys best chance would be to usher in a new franchise which could appeal kids and adults alike (ala Pokemon) and introduce a small selection of optional figurines based on characters from the world. I'd argue a fantasy card game (compatible with morpheus) would be great, have rare valuable cards versus expensive and space hogging toys.