Not to nitpick but 'parody' implies that Ingram was actively trying to make fun of Bollywood. I think you mean homage. Cuz that said you can tell that Ingram is having fun with these songs because he gets to do his own take on all these genres LPS explores.
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I've watched all of the new LPS and I really enjoyed it and I hope it continues beyond season 2.
Hoever I don't blame a bronys misconception that it is trying to pander to bronies based on the first episode, because honestly the first episode does let it down in comparison to MLPs:
The FiM first episode was unique in that it had the audience meet these new characters on their own terms; as the wat hers we are not told who they are, we are instead shown them and it is up toourselves.
For example, at no point does spike or twilight say "OH YOU MUST BE THE SPORTY TYPE" to rainbow dash nor do they say "HEY RARITY YOU ARE. fASHIONISTA BUT YOu ARE NICE". Atleast its not until the end of episode 2 that it does this but by then we know the characters enough.
LPS on the other hand flatout TELLS the viewers the characters and their personalities through a quick and honestly substandard song, not very clever.
This is important because Rarity's agenda would automatically be given to an antagonist in most children shows yet in MLPnshe is a hero and we discover this through her actions and not through characters saying "SHE IS THE GENEROUS ONE"
Otherwise, LPS picks up and becomes unique after its pilot. LPS has way more ambitious songs than FiM, having many different genres like Techno, Jersy boy, Bollywood etc.
Also, My Small Squrriel