I'm going to be devil's advocate here and say, why not? (despite offering a virtually opposite opinion only a few posts back. Hey, people can change their mind, right?)
IF they can get good animators on board, and create a fun, engaging tale of pigs vs birds, and build some character for the main birds and pigs, and get some decent (not necessarily famous, but decent) voice actors in, there's zero reason it can't be , well, not a 'Toy Story', but a reasonably successful and enjoyable CGI movie.
Of course, it's more likely, they'll knock out a cheap cash in, get people like Dane Cook and Snooki to do voiceovers, and they'll have a soulless but profitable hit.