A Borg movie could be done as an exploration movie.
I suppose. The mystery of it all and such.
I dunno. In the back of my mind, the notion of the Borg strikes me as a kitschy, Superman-meets-the-Joker kind of thing, too. "Worlds are colliding, Jerry!" It would be as if they rebooted TNG and had Picard go against Khan.
However, they could have a long scene of the Enteprise flying through a Borg cube as an homage to flying through V'ger in TMP. The camera would cut to a close-up of a wide-eyed John Cho, taking it all in.