DS9 should not be rebooted, and likely never will be. The ratings weren't strong enough to warrant it. Syndication metrics are too difficult to read these days, not nearly as noiseless and focused as TOS syndication back in the 1970's.
DS9 should not be continued. What's done is done. I haven't read any of the DS9 novels, and I imagine a lot of ideas were conjured up that could be the seeds of new episodes. But really, for the same reason above, I don't think any production house would chance it.
We've had reboot fever over the last few years. The public will tire of this. It's getting harder and harder to come up with compelling stories that are markedly different from ones already done. But, once in a while, somebody does it.
I think a lot will be hinging on the Star Trek II Abrams Style movie. Not the box office receipts, but the story merit of what's accomplished. We all know the movie will do well. There is NOTHING new in Star Trek land, so anything that comes out is sure to make big bucks. If it's good enough, it may inspire another series. Or perhaps more movies. But not multiple series. And banking on DS9 or equivalent space station setting to be the one is too risky.