John de Lancie doesn't think it was expected that season three of Star Trek: Picard would be so well-received
Producing a television (or streaming) series is a gamble. There's no way to know if the show will be liked enough or watched enough to continue. The chance of cancellation always looms over practically every series (unless it's NCIS or Law and Order: SVU). Star Trek: Picard was always meant to be a three-season series so the producers knew the show was wrapping no matter how well received the final chapter would be. But, according to John de Lancie, in an interview he gave Trekmovie, [via Comicbook] he didn't think anyone expected season three to be as good as it was. So, obviously, the fan clamor for a spin-off must have come as a surprise as well.
The way de Lancie describes it, the powers-that-be had already decided on what the next series would be—Starfleet Academy. So there was no opening for Star Trek: Legacy.
""I don’t think that they expected that Season 3 was going to be as good and as well-received. They had already decided on another show. They were already moving in another direction. But it was certainly a really valiant and well-appreciated finale to The Next Generation.”"
- John de Lancie
I find it hard to believe that the producers and the studio wouldn't have known how successful the final season of Picard would be since they were bringing back practically everyone from Star Trek: The Next Generation. That series has maintained its fanbase over the years, and seeing them all together again onscreen was a big draw. It was akin to announcing another movie with the cast. Had season three of Picard unfolded on the big screen, I have no doubt there would have been major numbers at the box office.
If no one was prepared for the success of the final season of Picard, then the door to a possibility of a spin-off shouldn't have even been opened. Though showrunner Terry Matalas has said the series finale wasn't intended to be a set-up for a spin-off, there's really no other way to interpret it the final scene. Q, who supposedly died in season two of Picard, appeared before Jack Crusher (Ed Speleers), who just happens to be Admiral Picard's (Patrick Stewart) son with, essentially, a promise of troubles to come. That's quite a big carrot to dangle if there was never any intention of feeding the horse.
As of now, we don't have any news on Legacy, and with Star Trek moving forward with Starfleet Academy, it doesn't seem like it's on the studio's radar at present.