It not being a TNG reunion-ish story will diminish viewership but IMO will make the writers less likely to engage in unabashed nostalgiabaiting
Yes of course you will have some people who rage at anything and everything because of any number of reasons, so any legacy characters coming back like Kira, or Bashir, or Alexander or Ezri would invariably produce screaming, but those people either need to adapt or be ignored..they're not genuine most of the time.
I'm not sure the budget would be there in any case..the 90's were a super super rare time when you had two concurrent full scale trek shows for the majority of the decade (TNG and DS9 had a two season Overlap, DS9 and Voyager had a 4 season overlap) plus *four* major motion pictures in one decade at the same time as multiple TV series running.
That lightning isn't gonna come back