I wouldn't trust MLP with Warner Bros. any more than I'd trust Disney. As far as I can tell, they're fixated with keeping MLP:FIM on their ill-fated Discovery Family channel for as long as humanly possible given that they renewed the broadcast rights for it to last until December 31st and who's to say they won't renew them again. Plus, they're doing a terrible job at keeping the MLP G4 cartoons available on streaming services. Netflix only has seasons 1-4, Tubi is missing seasons 1-2 + a handful of episodes, and Pony Life is nowhere to be found on legal streaming services. Not to mention that Sony was very close to yanking Discovery content off of PlayStation owner's digital video libraries, which proves that digital distribution is not an option either - both FIM in its entirety and Pony Life can be bought digitally as of this writing, but who's to say they won't remove them from the libraries of the people who bought them.
Given that I'd really like the series to be released on Blu-ray, I think Hasbro should partner with a company who prioritizes both streaming and physical media, like Shout Factory. It would solve both problems if they took that route.