TNG was only financially viable because Paramount pre-sold the international rights for video sell-thru - and made the overseas TV networks wait a year before being allowed to air episodes.
Plus there was a realistic chance of syndication revenue, and a lot less competition from cable and the internet.
Everything's changed too much for the TNG system to ever work again. But there are all new opportunities that could work instead, it just takes someone with the vision and guts to take a chance.
No matter the format, most ST fans will still expect state-of-the-art SPFX.
When the story remands it, the SFX should not be shabby. I'm proposing that the premise be written so that SFX is not demanded so often that it breaks the budget. And I'm optimistic that viewers will appreciate strong writing and acting enough that they won't even realize they're not seeing eye-candy every ten minutes.
Any fans who absolutely require a constant stream of pricey eye-candy are going to have to be happy with movies every three years because that's the format that can pay for the eye-candy. A TV series requires different assumptions, and probably will have a different audience. There will be movie fans, TV/streaming fans and a subset of both groups who appreciate both.
I expect the next TV series to be strikingly different from the movies, since movies and TV are splitting off even more completely into different animals. The future of movies is The Avengers
; the future of TV is House of Cards
. Star Trek
is lucky in being flexible enough to adapt to both.
So any direct-to-Netflix ST product would still have to be available in DVD or Blu-Ray form, at least for some years to come.
Sure why not transfer it in every format that will make money, for as long as that format makes money? But it's not the primary format, that is, it's not how Roberto Orci is going to sell Les Moonves on doing a series in the first place.