Yes it definitely could. It just seems like Disney is more confident in it than Pixar is judging by the marketing alone. In my opinion, Coco is one of Pixar's weakest attempts at marketing a film. This may be because they are waiting to get closer to launch, and maybe it's because it's a new IP, but I still don't get a feeling of the concept other than the artistic style. At least with Three Caballeros, you have Donald Duck, the second most famous cartoon character of all time. Coco could still end up being amazing, I'm just surprised of how little we've heard about it.