I would really watch MLP if:
1. The plot was unpredictable.
2. The characters had decent depth.
3. It wasn't obnoxiously colorful.
4. There was more action.
5. Whatever action there was weren't watered down and/or solved unsatisfyingly.
6. It didn't focus on finding morals too much.
7. It had a cast that was genderly diverse.
8. It wasn't cut up by dumb songs.
9. It has a continuous storyline instead of little "friendship missions".
And last but not least, if it was actually exciting to watch.
There. I gave 10 reasons why My Little Pony is not worth watching obsessively. Without once mentioning the fanbase or it's creators.
Honestly, I love the show because of the opposite of some of these reasons.
And I'll assume "I gave 10 reasons why My Little Pony is not worth watching obsessively." means we're talking about everyone.
1) I enjoy its predictability, being able to guess what happens next may kill some of the mystery, but the familiarity of the stories makes it more "closer to home." There are also times when it isn't so predictable too.
2) I never really understood character-depth, so no comment. If it's what I think it is, I'm perfectly fine with it.
3) This is a problem? "Obnoxious" is certainly a personal opinion though.
4) I love the calm nature of this show. Action is fun sometimes, but I love a nice relaxing story too.
5) I'd need examples, but I haven't been unsatisfied with such things (like the two-parters).
6) I don't know if or how I can argue that one, but I don't find the moral-teachings a bother.
7) I'm fine with the selection we are currently given.
8) Songs are not that common, really. It's better than some Disney shows that literally have a song-per-episode.
9) I personally would love this too, but the lack of consistent story isn't a problem. This is why the fan-fictions thrive, because of the lack it allows for more creative freedom on their end. Most childrens cartoons don't have a deep storyline because children are rarely able to pick up on it/won't understand it/etc.
10) This is a personal opinion, many find this series to be more exciting than a full-length movie thrillers/some other example here.
I find it entertaining and enjoyable as it is.
I don't find comparing it to more mature-type cartoons to be very fair (no, i'm not saying you are). The show is the way it is because of who owns it, the target-audience, and how these cartoons are typically done with those settings.
They don't get to be like Cartoon Network's cartoons, which have more story-depth than this one (regardless of how stuffty they are), or like an anime with a real complex story. With action on every corner, and the character is some bad-ass vet who's actually a spy with a vendetta/whatever. The creators were limited because of the bosses, they wanted to do more of this or that but were unable to because of how it might affect profits or because the bosses didn't think it would work out. (seriously, Rainbow Dash calling Twilight an "egghead" was close to stepping over the line according to them, just an example)
The show isn't amazing by overall standards. If you compare it to the major leagues of cartoons, it's not going to win. In its own league, I might call it the winner (i'd have to have a list of other top-runners first). It is one of the few cartoons for that small age group that does better than the rest. It is without doubt better than its predecessors, better than any barbie show, better than any Strawberry Shortcake, and so on.
I'm not saying you have to like it (again?), and I don't mind your opinions for it or against it, the show doesn't impress you (as it once did?) and that is fine. Just understand that because it is a simple cartoon, it will never get to be what many wish it could be. This is probably why so many try to over-exaggerate it, because they wish it would be more than it will be.
