Bronies need not reply. Unless you want to, that's cool.
So basically, what would MLP have to change in the show for you to like it? The premise must stay the same (i.e., a cartoon about colorful ponies using magic and sharing friendship, and appropriate for a kids' network), but examples of changes are different dialog, voice actors, characters, setting, etc. Be creative.
Personally, I'd appreciate a pterodactyl or three.
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I personally don't see how I could watch a show targeted for girls ages 2-11 and maintain a shred of self respect, but for the sake of discussion I think it would have to be pretty funny above all. I don't know what else could draw me to a show like mlp if it wasn't funny. Also they would have to do way better with the characters. It's probably been about 2-3 years now since I saw the only episode of mlp I've cared to watch but the whole thing just seemed really generic. "This ones the southern one" and "this ones the 'pretty girl'" is about as complex as the characters got. Is that the best you've got Hasbro? A pterodactyl would also be a welcome addition as well.