Well there is a sizable percentage of people who think flashy graphics equates to a good movie despite abysmal plot failings. Look at ST09 for example. Maybe a restore would improve the movie some, but enough to justify the money spent in doing it? The movie isn't even popular among the Trek audience, nonetheless regular people.
Honestly I always considered the movie more watchable than TMP. Even if it is fun to poke fun of Shatner's perception that Kirk is so awesome that he has to go up against God in the movie he makes.
That doesn't mean I "hate" him though. Can't say I know the fellow and he did better in other places to be certain.