It's not so much obsolete, just completely mismanaged, as Trek has historically been.
People on this very forum were questioning how wise it was to wait when there was no news about a sequel even a year after Trek 09. Four years was just way too long between movies, ridiculously long in fact. Beyond was fantastic, but it was more fantastic because of the character interactions and strong script rather than the special effects. You could have cut that whole shoot out on the destroyed Enterprise, the bike stuff and saved tens of millions for example. My point being, I think the time for the tent pole Trek movie has passed and passed when STID was two years too late and didn't even get close to a billion. However, I would really like to see a more grounded Star Trek. Interstellar had a 150m budget, the newer Alien movies had about a 100m budget and I think those types of smaller stories which still allow for impressive set pieces are where the future should lie.
I remember when movies like GRAVITY, INTERSTELLAR, and THE MARTIAN came out that there were Trek fans pointing to those films as good examples of more grounded sci-fi films that still drew in audiences. Trek has always had a stronger reputation as a morality play than as a slam bang Star Wars adventure. So why not just have the films embrace that aspect? If STAR TREK BEYOND grossed the same $343.5 amount but did it on a third of the budget, we'd probably have had a fourth film in 2018.