Not necessarily. It could look a little something like this.
Oh, god, no, please!
JJ couldn't design a decent toaster.
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The Excel's lines really benefit from the JJ-style makeover, I think. The Connie was too much of a series of soda cans glued together to come out of a streamlining looking anything less than awful. But the Excelsior's bathtub shape looks damn fine given a sharper, sleeker look. The only thing on my link I'd ask them to rethink is the bussard collectors; I think those would look better in a more true-to-source style rather than just kinda copying the JJ-collectors onto it.
The biggest problem with any type of redesign or modernization of the Excelsior is you really have to walk that fine line between preserving the original profiles as much as possible while still making it look more modern, otherwise it just morphs into a very generic star fleet vessel.
If you keep the same neck design, but for example made it shorter and more stretched out it would still be recognizable as the excelsior class neck. However if you change the "bath tub" (as people call it) shape of the secondary hull then it doesn't look like an excelsior anymore.
one thing that would really add a more modern look to the excelsior would be to keep the same neck design, but add in more of a sweeping backbone from the saucer, down the neck and ending at the secondary hull....think Ent-D.
I would go with more of an ENT-E style deflector dish which is still in keeping with how the excelsior one looks but of course change from yellow to blue.
Some type of hybrid between the ent-a and ent-e nacelles could really give it a retro modern look too.