I believe no one in the BCCI setup or franchises for that matter expects the same success as Men's IPL.
The poor state of the Women's NBA is a fair argument but I'd say WPL won't follow WNBA's route. Only because the recent media rights deal of WPL suggests that it won't become a subsidiary of Men's IPL and can sustain itself
My argument is that even if women's IPL is somewhat popular, it is never going to be as popular as men's IPL. It is never even going to be a very good business, to be honest. The best thing that might come out of this is the players that will represent Indian women's cricket. The profit is never going to be enough for most of the big businessmen. Of course, it is going to be enough for the broke people who always try to play it safe. But I think it is too early to say. Probably they will make enough profit eventually.
It is base less to compare women cricket with men. At the moment Indian women cricketer are not even close to Australian or English cricketers. First BCCI & the franchise needs to work on those grounds then we can compare them with Men cricket. I also agree WPL won't be generating as much revenue and craze like men's cricket. But both these franchise league will help BCCI generate more revenue and improve cricket infrastructure. That will give more opportunities to the cricket playing youth for both genders and overall help the Indian economy.
Both Indian IPL and Womens Premier League will increase the revenue of the Indian Cricket Board but it is common thing that IPL is the number one T20 cricket league in the world with the highest investment. No other cricket league can compare with this. On the other hand the Womens Premier League has just started. As the first season, it has gained a lot of popularity. In the next session better cricketers will be available and this event will gain more popularity. But it is certain that both the Indian women's and men's T20 cricket leagues will be the top cricket league in the world cricket.
What I am a little fearful of is that probably the women's IPL will also have to be funded even though it is not going to generate some actual profit. But one thing that is good in India is if they do not see a profit, they are not going to probably continue. Unlike in the west where some feminists shout for equal pay when they are actually playing in a loss project(WNBA)