Of course. I'm simply speculating that CBS might be looking at the previous results and them factoring into a decision not to do it.
Different time period. It's been twelve years since Voyager
ended its run and fourteen since DS9 wrapped up. If CBS were to go for a new series, it would probably take a couple of years to put together a cast, script episodes, etc. Enough time has passed that a new series could attract new viewers in addition to any left over from older series.
Of course, any series that does poorly is going to lose viewers over time. But the beauty of Star Trek
is that there's always another canvas to paint on. It's time someone reached for a brush.