CBS would own the rights to a DVD release but they'd never approve it. Direct-to-DVD has a low-class image. Better that CBS do nothing with the brand than degrade it.
Anyway, DVDs are a dying technology. If CBS wants to get creative about distribution, they should skip DVDs entirely and go straight to streaming, hook up with Netflix and do a new series. In that case, they'd want a cast of hot new young actors and a new premise.
Maybe they'd revive one existing character for the show, and in that case, Worf makes as much sense as any, if only because it's easier to disguise the actor's age behind the makeup.
Put the hot young actors and the veteran Starfleet officer together and the premise becomes clear: the dreaded Starfleet Academy!
(Which actually wouldn't have to be so dreadful. The cadets could be on space missions most of the time.)
I think a Smallville Trek, with a young Kirk and Spock at the academy, could work really well. Of course, it wouldn't really be Star Trek, but a teen sci-fi soap opera set in Trek's world.