There was never going to be anymore TNG either. Cinema was the only avenue left for that series, once Roddenberry died, & included a seven season limitation, in his will.
That is balderdash.
The actors signed the standard Hollywood five-year contract, then negotiated hefty new pay deals for Season Six, and again for Season Seven. Patrick Stewart and Brent Spiner priced themselves out of the running for any kind of TV pay deal for an eighth season so, if there was to be any more TNG featuring them, it had to be
a feature film.
TV SF spends a lot
of money on SPFX and has little left over from the payment of actor salaries.