I don't think they need a reboot so much as they need to use the original universe of TOS, TNG, DS9, VOY, ENT and move forward in time.
There are plenty of stories that can happen if they jump 300-500 years from the end of ST: Nemesis.
The tech already seems like magic, moving it forward only goes to remove it even further from the average viewer.
Nothing wrong with moving the setting forward IMO.
The tech can be adjusted and explained properly so that it doesn't seem like magic.
Plus a large chunk of the fanbase wants to know what happens in the original universe's time line.
There's also the issue with the writing staff relying on way too much technobabble since the start of TNG.
Babylon 5 along with most Japanese Sci-Fi Anime are generally technobabble light with solutions based on practical / logical things that people can do.
Babylon 5 didn't have plots focusing on Tech failing.
Another thing the writers need to avoid.
Alot of the drama can be done with out reliance on Trek Tech to explain / fail / deus ex machina their way through the plot.