Could a Live Action Barbie Movie work?

Barbie, Mattel's biggest Cash Cow, the Mother of the Pink Aisle. She gets tons of DTV Movies, but the question is: Could she survive a Live Action Adaptation?
Well, it COULD... IF done correctly. Mattel would be very protective of their brand, so nothing higher than PG-13 and nothing that could be used against Barbie... (No Barbie Girl song in the movie)
Probably it would be either a Comedy or a Romantic Comedy. For some reason I keep thinking of Legally Blonde. Something like that could work... Now I'm not saying they should just rip-off Legally Blonde. What I'm saying is that if Legally Blonde actually worked, a Barbie Movie COULD work!

Then again, Barbie would be the easiest Mattel brand to convert into a Movie. Big Jim and it's Spiritual Successor, Max Steel would be the second and third easiest.

The Problem lies in Mattel... Obviously their main goal is to sell more toys. They see the TV shows/DTV/Possible Live Action movies as X-Minutes-Long Toy Commercials. And THAT will be Mattel's downfall. Yes, the movie would be based on a Mattel Toy, but Hammering down the BUY THIS TOY! AVAILABLE AT STORES!! is NOT the way to go... I mean look at this Parody video made using Footage from Green Lantern

You know you thought of this when you saw that scene...
 
OK I'm just putting this because it has a He-Man reference... But seriously, The story should come first, THEN, selling the toys, if they want their Movie projects to succeed... I guess they'll try on a lesser brand first, before tackling on the Big B... Personally I'd tackle the Big B-a-r-b-i-e Movie before tackling one like He-Man... Because Barbie is easier to film and it would not require a larger budget like He-Man would...