God, no. If it were meant to be about war all the time, they would've called it Star Wars, and I think that name's taken. There's a ton of military and war-driven SF out there already, so why should Trek reduce itself to being just one more generic entry in a cluttered genre? Trek has always stood out because it's one of the few SF franchises built around an optimistic future, because it's about people who travel through space to explore and learn rather than conquer or defend against conquerors. Three seasons of the Dominion War and one of the Xindi conflict are more than enough.
And sure, yes, a serialized narrative is worth doing, but there must be a more original basis for one than just another space war.
Okay, but about a Cold War like I suggested, with the Federation and a rival power trying to gain allies and resources from a newly discovered planets?
What kind of serialized story can you do with exploration?
Plus why wouldn't the Federation have to defend from conquerors, space is a big place, its naive to expect everyone out there would be friendly.