The way I understood it, the original concept was that the holo-novel would be our (ie the audience at home) opportunity to see beneath the professional facade and learn more about Janeway as a person by seeing her in a less formal, non-Starfleet enviroment. The idea was supposed to be that the holo-novel would be used as a teaser over multiple different episodes, each time telling a new chapter of this ongoing self-contained Victorian storyline, which would have unfolded gradually over many weeks and months and been able to be watched at the end of the season in their entirety as a story in their own right. Unfortunately, the writers got tired of it very quickly, and quietly retired the idea. So, in the event, the little snatches that we *do* get of it aren't adequately explored (because they were supposed to be this ongoing thing, but they got unceremoniously dropped without any real resolution.)
Ironically, the general idea of the holodeck being used as a fount for showing Janeway in a more relaxed, less critical enviroment *did* eventually get some mileage, whether it be from the DaVinci hologram or 'Fair Haven'. I think if they'd had the great idea of using DaVinci at the start, maybe as a regular muse for whatever Janeway's problem-of-the-week was, instead of driving that turgid Victoriana into the ground, then they'd have probably struck gold. Basically the idea itself was a good one, but the choice of setting was simply very poor.
(Although in *this* day and age, post-Downton Abbey, the Victorian melodrama would probably be much better received than it was in 1994.)