I think yes, sure the 1st gen didn't have a lot of characterization but then again it seems alot of cartoons in that time didn't have many personalitys. Especially when it came to cartoons targeted towards girls. But it's because of the 1st gen that we are even here, Lauren Faust loved the show, thats why she probably did the show because she had such fond memories of it. But the way some bronies bash is really taking it too far in my opinion.
Also the way that Hasbro has done certain things with gen 4 like the live show. I mean yeah it's not that great but if you watch the vid you can hear the kids having fun. Let me tell you if i was 6 and saw that stage show as my pony loving self i'd crap my pants because of how awesome the costumes look. I don't think Hasbro has ever had to catered to a teenage and adult audience. I think some of the bronys are forgetting that kids do like this show as well and i think it's fair that Hasbro should make and do things desginated for the younger crowd. After all they are coming out with pony figures that look more like in the show.
Note i'm not saying every brony is like this
Sorry if this is so confusing