I still have an affinity for J Michael Stracynski’s Star Trek: Reboot the Universe pitch he came up with 20 years ago. Strip the whole thing down to the essential elements of the original “magnificent seven,” the Enterprise, and start the whole concept over from zero and make a new canon of stories and worlds.
I can think of all kinds of arguments for why I wouldn't want, but the main one in my head right now is that what we have is
amazing. Star Trek has been running with a more or less consistent universe for 59 years. Episodes are still referencing things that happened way back in the first season of the first show.
Doctor Who is similar, but due to time travel weirdness no one watching knows what the hell actually still happened anymore, or even if humans should be aware of aliens or not. Stargate was doing really well, but it only really lasted 14 years. Marvel and DC have got comic universes stretching back to the '40s, but because the characters can't really age they're continually rewriting their past. The James Bond movies got semi-rebooted with each new lead actor until getting properly reset with Daniel Craig. There's Alien, but that's a bit of a mess. There are also video games of course, but that's a young medium.
I suppose Star Wars is the closest thing to Star Trek, as everyone's currently raving about a television series all about how the Death Star got built (the one in the first movie from 1977).
The point I'm making is there are very few ongoing stories with world building on the level of Star Trek and the ones we have are worth
protecting. Anyone can make a space show about scientists going around helping planets, especially if they're Seth MacFarlane, but the Star Trek universe is something incredibly rare and special in our world. The history isn't a ball and chain around its ankle, it's a selling point. The events you're watching in an episode can still matter in stories made 20 years later.
And I don't see its length as a problem, especially when we're lucky to get 10 new episodes a year. The longer it goes on, the better technology exists for writers to keep track of it all. We have Memory Alpha and ChatGPT and folks on BlueSky documenting the changes made to Picard's fish tank in every episode. It doesn't need a reset, it needs enthusiastic writers who get the vibe and want to go explore some new worlds instead of retreading old ground. Make up a planet, show us what's there.