I'm not saying that TOS and TNG were never profitable. I'm saying that the remastering of TOS and TNG maybe didn't pull in the money that CBS wanted, factoring in whatever money they put into remastering the footage, printing Blu-rays and DVDs, and advertising. If the Blu-rays were successful to an unprecedented level, we probably wouldn't be here wondering why DS9 and VOY aren't remastered. At the end of the day, CBS/Viacom is a business, and businesses are profit making centers. They heavily monetize Star Trek, from Enterprise shaped pizza cutters to Klingon funeral urns. If they thought remastering DS9 and VOY would bring in serious dough, they would have it done years ago. But evidently, they don't see the point of doing so from a financial standpoint. Probably because these shows do well enough in syndication and streaming in standard definition, and remastering probably wouldn't increase their profitable in any meaningful way (maybe a slight bump with the initial announcement and release). What other reason could there be to not remaster DS9 and VOY besides money? Anti-remastering Illuminati? I mean Enterprise got a Blu-ray release, and that is seemingly the least popular and successful Berman era show. It likely has something to do with the fact that Enterprise was somewhat "future-proofed" in the way it was filmed and doesn't require a lengthy (and probably costly) process to upgrade for Blu-ray, the way DS9 and VOY would.
As far as we know, CBS did make a profit on the Blu-Rays. And considering that the Remastered episodes are the most easily accessed versions, CBS seems to consider them the “official” versions. If they were not successful, then CBS would’ve shoved them in the vault and just kept the originals going.
But CBS also gets a higher profit on the HD versions than the SD versions. A few years ago, Bell Media acquired the Canadian rights for all Trek both broadcast and streaming. The majority of the price that Bell paid went for TOS, TAS, TNG, Enterprise and Discovery. Deep Space Nine and Voyager were more or less thrown in as bonuses. Bell paid a little for their rights, but in this age, CBS cannot ask the price, value wise, for DS9 or Voyager that they were asking for 20 years ago. It’s like we are in the 1960’s with Color TV—-back then studios could ask a higher amount for catalog titles that had been shot and edited in Color, and in some cases, for series that had been partially shot in black & white and partially in Color (I.e. Adventures of Superman), a lot of times the stations would only run and pay for the color episodes while the black and white episodes would not be run or would be delegated to late-night. It’s the same for SD programs now, because they look terrible upconverted and when they are converted to 480p for streaming, most studios use the cheapest method and it looks terrible and soft. So broadcasters really don’t want to touch SD programming, or most SD programming ends up on a sub-channel that’s dedicated to retro shows.
Right now, DS9 and Voyager are very low profit series for CBS right now. CBS can get more profit from Enterprise right now than DS9 and Voyager combined, because Enterprise was edited in 1080p HD, so more stations would be interested in it because it’s in HD. From a business standpoint, it makes more sense for CBS to Remaster them because they are undesirable properties. Right now in 2020, there’s the pandemic so a lot of things have been put on hold. But the DS9 has the documentary come out at the end of 2018-beginning of 2019, with the Blu-Ray/DVD in August of 2019. That would’ve shown CBS that there was interest in the series, 20 years after its last episode aired, and they would’ve seen how much the producers raised to even get a few minutes of footage remastered. Someone at CBS has got to be thinking that if fans would put that much into fundraising to allow that, they would probably spend to get a full Remaster. And with Voyager, you’ve got Seven of Nine on “Star Trek Picard” and CBS is talking about doing a Janeway series, so there is interest out there for Voyager-related product. With “Picard”, CBS was able to put into stores a Jean-Luc Picard themed Blu-Ray set of “Star Trek: Picard Movie & TV Collection”. Yeah it was a repackaging of existing Blu-Rays, (and CBS did not release a DVD version using the old SD versions or downconverted versions of the Remastered episodes), but they were able to cash in on “Star Trek:Picard”. Right now they can’t offer anything from DS9 or Voyager on Blu-Ray to tie into Seven’s role or Janeway (unless they reissued “Star Trek Nemesis” for Janeway, but there’s nothing for Seven available in HD); they couldn’t release any DS9-tie in for the “What We Left Behind” documentary because they didn’t have any DS9 HD. Since 2011 CBS has essentially abandoned the DVD format for Star Trek “Best of” releases, since we’ve seen “The Next Level”, which was a test disc for TNG in HD, “TOS: Origins” that was released to tie into the film “Into Darkness”, then we had the Roddenberry Vault Blu-Ray, and now the “Star Trek Picard” set. There has not been a Region 1 “Best of” DVD set since 2009. Sure there were the 2017 reissues that were designed to allowed for the series to be sold as one (where the final season for both is exclusive), but the other 6 seasons could be sold in 2 seperate sets.
Right now, CBS has no DS9 or Voyager product to attract the attention of the casual viewer, or for people to buy for a Christmas gift for someone. “Best Of” Blu-Ray/DVD set still get people interested in different series, and usually get people to buy the more expensive season sets if they like the show or stream the series. But it’s physical, it’s something which flags a person’s eye. It’s difficult to flag a persons eye to a particular show online if the haven’t watched it before or heard of it.
Right now, out of all the TV shows, CBS has 409 episodes of 750 available in HD, while 341 are only in SD. In other words, CBS is only getting profit on 64% of their TV product, 46% of their Trek offering (which comes from only 2 series) is undesirable when it comes to sales and broadcast.
So from a business sense, it makes more sense to Remaster DS9 & Voyager to HD than it is to leave them in their 90’s/early-2000’s SD D2 composite video state.