There is actually something lost, the Oliver Harper retrospective on either The Last Jedi or Discovery reviews talked about this, how originally Star Trek and Star Wars was this special thing, Star Wars OT was for example this film series that came out of a specific art film movement from the 70s, it was all these techniques and styles from this film movement brought to the big screen with massive budget and this is what made Star Wars OT unique and special, but now, they're just 3 films of largely a crap franchise that is being bled dry is generic Disney formula, you cannot ever detach Star Wars OT from what it has become thus some of the specialness of Star Wars is lost. Not only that, if you have watched Disney Wars, you know your OT beloved characters, die meaningless deaths, alone and miserable, having achieved literally nothing.
In the review they touch upon Star Trek is much of the same, TOS, TNG and DS9 are special and even VOY and ENT have still that special Star Trek feel, but after Kelvin and now Discovery, Star Trek IS just now another generic modern franchise with generic storytelling, no unique feel whatsoever and that cheapens the franchise as a whole, not only that, because Discovery "is canon" yet doesn't fit anywhere at all really, it butts head with the worldbuilding of the universe.
I actually do feel something is lost with these cheap, lazy modern sequels/remakes in the end, you cannot separate the franchise from the film. Star Wars OT are still great films, but now when you watch it, you know every character here basically dies achieving nothing and I have no idea how you're supposed to square Star Trek TOS is set in the same universe as Discovery at all.
To be honest: What was lost, will be lost forever. The novelty feel of any movie is very particular to the era it was made in, as well as technical advancements, effects etc. "Titanic" for the youths of today is just a long romance/adventure movie that everyone has seen somehow. They don't know how spectacular the mixture of state-of-the-art visual effects and James Cameron's direction at his peak was. What remains is some nice real-life submarine footage from the original Titanic, a very faithfull recreation of the ship, and a love-story that is extremely clichéd.
The same way, what made the Star Wars movies (or Star Trek series) soooo special at their times simply cannot be recreated. But they remain what they are - which is still entertaining.
In this regard, Star Trek actually got the better end of the stick - Star Wars IS narratively broken at this point as you said: Storywise and characterwise, the entire original trilogy has been invalidated, and all characters died having lived a meaningless life, having lost everything, and being essentially reset at their pre-New Hope/post-Revenge of Sith status. That
is sad. But that's only the story - the
novelty of the OT would have vanished nonetheless.
Star Trek has it better. DIS may be a dissapointment, underperforming expectations, and being in contradiction with TOS a lot of times. But Star Trek has the unique ability to just move on: The next series can simply be a regular part of "our" Trek universe again. Hell,
Discovery can recover and become that, with just minimal effort!
The only thing that would probably break the Star Trek universe would be if some numbnut Hollywood executive finally decides to do that god-awful
"Fall of the Federation"-concept, or if the Prime/Kelvin timeline seperation will continue on post the Pine/Quinto movies. Until then, Star Trek is a universe, essentially a sandbox, where you can do
everything. And it usually has treated it's characters very graceful. Even Kirks death in "Generations" looks quaint compared to what happened in Star Wars. Star Wars OTOH is a singular story. You fuck that up - which they did - and your
one story is ruined. Despite Star Wars being more financially successfull right now, IMO Star Trek still is in a much better shape. At least narratively.