Part of LIS' problem is they wrote themselves into a box. By stranding the ship planet bound everything had to come to them. In a way it was a sci-fi version of Gilligan's Island.
If they had definitely decided upon staying grounded for only the first season and getting back into space for the second (they did for the third season) then you open up story possibilities.
The thing is, too, is intent. GR and crew had a clear idea of what they wanted with Star Trek,
and it was the more challenging idea: do fantastic stories straight and with an adult sensibility and a sense of credibility. This meant they had definite "do's" and "don'ts" to guide them.
LIS, on the other hand, got evermore silly as it just basically made it up as they went along. It effectively became a live-action cartoon.
If someone were to try rebooting LIS and better explore its potential and get back to the early sensibility then I think it would work best as a miniseries. That way you could plot out exactly what you wanted to do and not get bogged down in trying to pull something out of your ass just to have something to broadcast.
I love the episodic series of old, but the times have changed and I can see it being very challenging to do open ended episodic series now. I'm thinking science fiction might now be better served if it could be produced like shows done on HBO and the like: 10-13 episodes where you can plan out what you need to accomplish. This might also give you more resources (money) and definitely more time to put it all together.
I think the specialty channels are where to go now because people (particularly guys) are abandoning commercial network television in droves.
I'm thinking that if they can do fantasy like Game Of Thrones
and period pieces like Mad Men
and Boardwalk Empire
as well as other period miniseries then someone can do science fiction. It's just a matter of someone being interested enough to want to do it because I think there is an audience for it. I suspect space adventure isn't going to happen again on network television---it just doesn't fit the target audiences there anymore given it's also skewing evermore toward women.
Beyond fans of SF literature no one was screaming for a show like The Twilight Zone, The Outer Limits
or Star Trek.
The creators of those respective shows each took a chance believing there was an audience for such materiel. I think the same is true today. The accepted "wisdom" presently is that SF on television, and particularly space adventure, is dead, but I think since everyone just believes it no one is really trying. But that doesn't mean there isn't an audience out there waiting for it.
If someone introduced a space adventure concept made of the likes of TOS or Babylon 5
I'd be on it in a heartbeat. If it's good then I'd also be buying the subsequent DVD or Blu-Ray box sets and tie-in merchandise as well.