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Looks good on a t-shirt

My buddy Bill Jemas made an interesting remark at the Licensing show a few years back. When asked what makes for successful media property?  Bill answered (and I'm paraphrasing here):

"Only three types of properties can succeed. The first is the 'evergreen' property, think Beatrix Potter or Winnie the Poo. The second is the large event movie, think Batman or Shrek. The third is something that looks good on a t-shirt. Everything else is just noise."

While this certainly makes sense for licensing - it got me wondering - does this hold true for online properties?

To succeed, does your brand need to look good on a t-shirt?