My general belief is that they will go the movie route again, fail again, then come back to TV again.
According to
The Hollywood Reporter, 28% of the HBO Max subscriber base has a subscription to Paramount+ and 21% of P+ subscribers have a subscription to HBO Max. So regardless of what the new owners do, when they pivot back to TV, the show(s) will definitely get much better ratings because the total subscriber base will be so much larger.
My general guess is that when they pivot back to TV, we will get something similar to what we got in the Kurtzman era. A handful of shows targeting different vibes & demographics. I do not believe they would ever go "all in" on a single premier show with 25 episodes a season that are released every single year.