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Hardly anyone was watching the show or buying the toys.
As for why hardly anyone was doing these things I imagine it just came too soon after the 2012 show to really hook people in. Most kids who hadn't outgrown the cgi show wouldn't take to a new version and there hadn't been a significant turnover of new kids coming to the franchise fresh.
Beyond that I think there are certain concepts that just don't work well for this franchise. New non-Shredder central villains (Dregg, Dragonlord, Draxum), magic and techno weapons, excessive accessorising, giant 'roided up turtles and this show did all of that.
Defenders of Rise will say that fans don't like change (and that is true) but this wasn't new or trying anything different. It was taking a bunch of stuff that time again has either been met with mixed reactions or outright flopped with fans and doing it all in one show.
I kinda get why Nickelodeon would do it. People often obsess about how kids will be able to tell the turtles apart so accessorising and giving them all different proportions sounds like a good idea on paper. It's always a problem that few versions of TMNT can get past the Shredder as the main villain only Archie and 2K3 really managed it, even Mirage kinda struggles with City at War the last universally considered good story after Saki's final defeat in Return to New York. I get why coming up with new villains is a popular idea but it rarely ever works out well. I just feel that the powers that be always look at these issues and think that 'this time it will work'.
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