I don't know much about the Green Lantern franchise or the comic book so I don't know what it will take for the team to pull it off right, but I do know that they need to base it more in reality to pull it off.

For a first-look franchise that no one has seen on the screen yet, I think it needs to take a cue from successful comic book adaptations such as Ironman, The Dark Knight, Batman Begins, and the first X-Men, as those were, in my opinion, comic book films that attempted to be founded in reality with supernatural elements added; as opposed to films like Hellboy or Fantastic Four that are totally supernatural that try and add realistic elements.