Ultimate Universe was selling phenomenally from 2000-2005 I think the line was even outselling most of the 616 at one point. BTW, that wasn't really a reboot just a parallel universe much like DC's Earth One line and the Earth 2 book.
There's too much convoluted shit in the 616 that has got to go. Spider-Man alone has so much horrible baggage from the long ass JMS run, Clone Saga, Dan Slott's current run, getting molested by his uncle, his GF having a babies with Norman Osborne, the goblins being killed and resurrected 100 times, Todd Mcfarlane's Torment run, etc. and then Ultimate Spider-Man has had so much horrible shit happen to him and his own baggage that he's accumulated in the past 15 years. They need to simplify things, go back to basics like DC did.