It worked well for BSG.
True, but BSG never had the same type of massive following as Star Trek did. The majority of fans hate the idea of a complete Trek reboot, which is why the nu-Trek takes place in an 'alternate universe'. BSG left the possibility of the 70s/80s series having taken place in the same universe, but in a different era (the 1980s 'future')
, with the concept of "all of this has happened before, and all of this will happen again."