It may be able to, but that's not for certain.
They have to manage much larger servers to account for more players, they have much higher overheads, they will almost certainly have much larger revenue expectations and they have a significantly larger shortfall to make up if they were to stop making a main title and move to a service only model.
But if the content they are producing is only tracks, cars and general bug fixes/minor features... for the annual price of a new game, isn't that a better investment in a whole new product? Especially when historically those new products have been very similar