G5 is expected to have a universe where pony species each have their own world, all them besides a hub world. I'm honestly not sure what to think of it, I liked how G4 had a single shared world that was highly diverse. Hopefully the G5 world won't be so shallow and will inspire many ideas for the fandom.
That being said, if you think G5's world isn't all that interesting to you, would you have any intention of creating your own world with (but not limited to) ponies? If so, what would it be like? If I could create one, it would be similar to the Pathfinder RPG universe with not only a highly diverse earthlike world, but also a vast cosmology, both through space and extra-dimensions. Other tabletop RPGs like Roan and Galloping Stars actually have their own Pony worlds.