Roddenberry already wrote the Fall of the Federation storyline. It became the Kevin-Sorbo-laden TV series "Andromeda".

"Systems Commonwealth" == "Federation"

Wanna real reboot? Option THAT material and remake it as it was originally intended.

Absolutely right. Precedent for this already exists - our local utilities only own the pipe or the wire up to the meter. A few months ago, we had a water leak in the main line coming to the house. Our utility informed us that since the leak was after the meter, it was our responsibility (and $$$) to fix.