If they do not bring this show back as an animation, then maybe they could bring Prodigy Season 2 back as a mixed live action and part animated production, but still aim the show at young adults/young minded adults?
Besides the much higher costs for live action, there are also other things to consider: as things are, it is easy to get semi-retired (or otherwise older) actors to come back for a non-demanding voice role that is recorded quickly. Coming back for long shooting days while being covered in make-up may not be as attractive.
I'd argue that Prodigy also has charm thanks to its specific style of animation, which allows the production to do things that live action couldn't do (or that would be very expensive) and to get a cinematic look and feel.
See the vehicle replicator duel between Gwyn and Rok and the Protostar on Murder Planet, for example.
Moreover, characters like Rok wouldn't be possible in live action (and Zero far more difficult), and always mixing live action with animation/effects isn't the ideal way to produce an entire show IMO.
What could be is that the new streamer, assuming Nickolodeon also stops funding the series, may opt to shift the tone of the series slightly to somewhat older viewers (as opposed to the very youngest viewers partially targeted by Nick). But that depends on their strategy and on talks with the producers and the owners of the property, CBS Studios.
Do we have evidence that Prodigy was running at a loss? I assumed that Prodigy was cancelled for other reasons. I thought that the most likely reason for the cancellation/suspension of the series was a conflict of interest with *another* potential upcoming show such as Legacy or Academy.
We don't know what Prodigy was doing as the numbers of streaming services (and of Nickelodeon, for that matter) aren't public, and difficult to interpret as well. The goal of the show was probably mostly to bring in the very youngest viewers, and it may not have been sufficiently succesfull at that goal. It could have quite a few viewers, but may not enough viewers who would subscribe to P+ only because of Prodigy. It may have turned a profit, but less so than other existing and potential P+ properties (such as Picard/Legacies but also Yellowstone, for example), and thus not be seen as a particularly good investment.
Another thing to consider is that the lack of reach of P+ (market share) may have been a negative thing for the potential of Prodigy and a move to Netflix or Amazon could increase the audience due to higher visibility on a popular service, potentially making such a move interesting both for the competing streaming service and for producer CBS Studios.The latter may even be willing to lower profit, directly on Prodigy, if the calculus is that over time they would gain viewers for the other shows due to "indoctrination" by Prodigy.
As for Romulus, while I understand the sentiment, there is (so far) zero indication it won't happen in the Prodigy timeline. I wouldn't be angry if it did happen by any means, but the Hagemans and Waltke have always said they talk to and coordinate with the other shows and we have seen signs of this in the finished product (the episodes in the Romulan neutral zone being a clear example of the influence of Picard on the show).