For me, I think the Fairly Oddparents took a writing hit at around Season 5, just before Poof. What I recall strongly about that season is some of the poorly paced episodes (Presto Change-O for example literally begins with Timmy asking to be bodyswapped, with literally no build up whatsoever), some episodes being far too heavily reliant on running gags and are just plain not too funny (Something's Fishy, Nega-Timmy, Back to the Norm), heavily flanderized characters (such as Timmy the Barbarian having Wanda literally being a nagger). It's also home to the infamous It's a Wishful Life and Timmy's 2D House of Horror, both atrocious episodes) but the episode that stood out to me the most as a testament of its writing quality was Timmy TV. I don't exactly remember the plot of that episode, but there was a dialogue that went something like this:
Timmy: You can't get rid of my godparents!
Wanda: Oh did you hear that? He really loves us!
Timmy: I mean, who else will poof my screen up for me all the time?
I mean wow. My god. This piece of dialogue was absolutely unnecessary, unfunny, and mean-spirited, and it's completely out of character for Timmy to say that. That one moment was like, yeah this show definitely dropped in quality somehow. Season 5 does have a lot of great episodes such as Yoo Doo!, The Good Ol' Days, Just Desserts, Future Lost, and the specials, but the bad episodes it has shines a spotlight on what's to come for the show and it'll only get worse.
I've tried giving Season 6 onward a chance. I've tried to rewatch episodes. Poof wasn't really the problem though he did contributed to some. The pacing became hyperactive, they try to force jokes and running gags which aren't all that funny to begin with (I think the only time I laughed at a running gag was Cheese & Crocker's Crocker trying to be Spider Man and him crashing into a wall and saying "ah I'll take the bus" and the rock stuff in "Land Before Timmy"), and the extremified shifts of personality of the main characters (Timmy becoming more selfish and impulsive, Cosmo being even dumber and trying super hard to be funny, and Wanda just berating Cosmo for no reason, as if she has no chemistry with him anymore, but is still otherwise the "most" tolerable of the personality changes the most as she's still the straight one who is smart). There are still wholesome moments to be found here and there such as Emergency Wish's family photo near the end of the episode and maybe still some funny stuff such as "Open Wide and Say Auugh" with that really whacked out hospital (which is also kinda forced). And Wishology is still good.
And I haven't watched anything much past that. Might have seen some episodes but none of them stood out to me, except for Lights Out which is a special kind of terrible. I didn't watch a single episode of Sparky or Chloe but the show is pretty much unsalvageable at that point, Season 10 probably being, by far, the worst season of the Fairly Oddparents, as I've seen some reviewers take on some season 10 episodes, almost all of them universally terrible.
I haven't watched the movies either but I feel the same issues that started springing up in, say, Season 6 are present here.
So, this leads to my opinion of the trailer.
Like wow, this looks even cheaper than the Drake Bell trilogy. Cosmo and Wanda are literally just 2D cartoon images pasted on top of the footage. They have this particular art style for a reason, and all of that cartoon aesthetic gets thrown out the window when you just put them in live action like this. At least in the movie trilogy, they're in 3D, so they look like they sorta fit in the world, their own cartoon aesthetic notwithstanding. The fairies look like they just don't belong and are thrown in because, hey, I guess Fairly Oddparents used to be popular, remember when it was good and it used to be funny? The trailer also showed typical weak Fairly Oddparent humor such as, of course, the toilet joke because hahaha human waste is funny. I think this would probably written even worse than the triology because this honestly looks like a generic teen sitcom but with Cosmo and Wanda in it and I don't have high hopes for it. I didn't have high hopes for the show from the beginning but man I didn't expect them to be THIS cheap about it. I do like the updated cartoon designs of the fairies, noticeably the introduction of shading, but...that's it? Would have been better if it was animated but that show honestly needs time to rest now, seriously.
I've also just realized that Poof was nowhere to be seen here. I guess they really want to try hard to forget Poof happened. Same with Sparky (who didn't appear in Season 10 at all) and Chloe.