We do not need a season two.
Telltale has told the perfect story with this game. Maybe they left a lot of things unanswered, but that's all part of the game. Is Bloody Mary alive? Was it Faith posing as Nerissa, or Nerissa posing as Faith? How are the Mundies going to react to a 6 foot tall werewolf-like humanoid running around New York City in the dead of night? What were Bluebeard and Snow talking about at the end of the game? What happens to the rest of the Crooked Crew?
We may never know. But that's all in the sport of the game. You, the player, are left to fill in the gaps.
I don't want, nor do I believe that Telltale will milk this franchise for another five episodes just because some players want to know what happens to Nerissa/Faith, or Bloody Mary and others. They left all of this unanswered for a reason. For us to discuss for years to come. If someday Telltale has a great idea for another season in the world of Fabletown, I have faith that they'll do it right. But for now, let's accept that this franchise is to be put to rest, and we've been left with so many questions for our imaginations to play with.