Well, they got something back from their $20M. They got a high definition show they can air on their network or whatever other distribution mechanism works out well for the next several decades. Not claiming it's a money winner, but it's not a total loss.
I see your point, but it doesn't really make it a easier pill for the studio execs to swallow.
Certainly not to the point of being able to commit
another $20m to DS9, and another $20m again to VOY.
Nobody is going to sell the farm
now for the
potential dividends five, ten, twenty years down the road. That isn't good business.
TNG-R was made that way, on a ''prediction of earnings'' that didn't materialise out of Blu Ray sales, at least. It backfired big time. Sure it'll break into profit
eventually, but that's too big a gamble for the suits.
They can get a network ready HD show more easily (and cheaply!) from upscaling the existing SD sources. It ain't gonna look great, but it'll be sellable.