Personally, I may be a brony for the series My Little Pony (the current generation not the older ones) and I find this game a really interesting but funny game. I agree that there are way too many ponies on the internet now.. but that's what happens when something meant for little kids just goes out of the normal box and gets dropped into the world of infamous goodness.
This game actually isn't a fail in my opinion. It's quite a good way to release the pent up rage on the MLP fandom, but it's not in anyway hate towards the series either, it's just harmless fun but shooting up the pony cast and other fan-boy/girls.
It's a solid game and it's worth playing.