Well, it's neither good or bad. It is what it is...nothing more, nothing less.
The only really thing that's bad would likely be how society and people can treat people who have a interest in something like R34. I mean, I have seen people who have and interest or fetish for it get treated well...like dirt; honestly.
I understand why people wouldn't like it, and it's not something for the younger viewers, and for a show like MLP that can tend to make things difficult. I mean, it is REALLY easy to find R34 pictures in Google search when I'm looking for something that's innocent, epic, or what ever.
People will like what they like, and just because they like it shouldn't mean that they're bad, awkward, or social rejects. However, there does need to be a line considering how easy it is to find this stuff. I doubt Hasbro wants bad press from a kid becoming emotionally scared because he found a really suggestive picture.
Again, I won't say it's bad. I mean, it isn't a bad thing in itself, but it shouldn't be as easy to access as it should be; I guess. I know Google has methods to block content, but it's a little flawed when it ends up blocking otherwise okay pictures.
*Shrugs.*