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It'd be nice if it was PG-13. It'd be super nice if there was more than one production team, each with their own spin on how to approach the idea. Some PG-13, some TV-Y, some well... nudge nudge, wink, wink. Not all of them have to make full blown shows I mean, but it'd be nice if anyone who wanted to and could gather the resources could realize their own personal vision of what MLP could be. The most popular one would be the most elaborate, but that's a good thing, because it means people are genuinely happy with it.
But as long as we have copyright, trademark and intellectual property, that's not going to happen. Only one corporation is allowed to make anything without risk of C&D, and firstly they're not the best at making shows at all, and secondly they won't risk anything because it could lose money. Thus it's always going to be TV-Y shallow, overly moralistic garbage, because that's the inevitable effect of writing into law the lie that ideas are commodities.