It's all projection until it happens. I guess my idea of a franchise QB is a QB that a team locks up for 4 or more years and plans to build around. In that, even a rookie can be a franchise QB. That doesn't mean he'll live up to it, just the commitment a team is willing to put into the player.
I guess that's sort of jumbled thoughts... What I'm trying to say, is that IMO, I've had doubts if teams would see Teddy as their long term answer and be willing to commit that much to him. I have little doubt that if a team does go all in with Teddy, and the system fits, AND they surround him with enough talent, that he can be a QB that lives up to just about everyone's definition of a franchise QB.