You're talking about the movies, and yeah, that has failed. They're talking about yet another one, and I'm baffled, but we'll see where (if anywhere) it goes.

But the Paramount+ stuff is doing pretty well. Strange New Worlds is very popular. So was Lower Decks. The last season of Picard, at least, gave fans a lot of what they had been looking for. They've got a new series coming out, and what little we know is that it has a bang-up cast. (Not that that's sufficient; Discovery did very badly by some very talented actors. But it's a good start.)

So Trek: The IP is still going pretty strong. At least as well as Star Wars, which has also been hit-and-miss.