I fell out of the fandom so many years ago, due to having been very burnt by ponies all the way back in FiM's fifth season. Without the insane hype of the pony fandom these days, I actually found myself enjoying the series far more when I caught up to the ending. [And also because I believe the quality of it kept rising in the later seasons.]
Thus, I'm no super fan, and have never been. Always have thought FiM was a fairly decent kids' show with my favorite Western cartoon art style and intriguing world building. I only watched one special/movie of this Gen and whilst it was entertaining, I don't find myself interested in watching any more. There are two reasons for this:
I can't stand the current art style of this series... both 3D AND 2D. FiM had a unique aesthetic that I've never seen in any other cartoon, one that focused on clean simplicity and beauty, rather than the usual style that most Western animation seems to adapt. Now, it looks generic and blends it with the crowd. The 3D ponies give me a serious case of uncanny valley, proving to me that ponies just don't translate well into it. As for the 2D, it looks like Bean Mouth Modern Style, which I dislike looking at.
Then there's the world-building, as many have stated. Whilst I haven't watched all the specials, I have a general sense of what happens. It isn't very expansive yet, and that would be fine... save for the fact that they set this after G4. It doesn't even feel like the same world in the slightest and I will not buy that it is. I dislike it when series do this. I understand that a lot happens in thousands of years, but without any proper set up to explain what exactly occurred to cancel out the positives of Twilight's reign, it falls flat. At the moment, it really is just an excuse to cash in on FiM's popularity. It can never stand on its own now and will forever be compared, in its shadow, because of this poor execution. As I've seen others express, it really should've been its own thing entirely.
I believe that FiM was lightning-in-a-bottle, a series of circumstances that can never be replicated, and that this series would've never reached that level of popularity once the novelty of grown men watching little girls' cartoons wore off. But it could've at least carved out its own niche. Now, they guarantee it cannot.
Don't really have much optimism for it to improve either. Whilst they gave the creatives of G4 enough freedom to write intriguing lore for the series, Hasbro being a toy company who only cares about selling them still sometimes interfered with the quality of FiM. Now that we've started fresh with new creatives that haven't really established themselves, Hasbro can exert more control, which is obvious just from this bone-headed decision they've made. The brony fandom was a nice diversion for them, and they've made a bare minimum attempt to pander to it by connecting this to G4. But bronies' shrinking numbers over the years means that they probably aren't going to make attempts to explain the lore because they aren't willing to put in the effort beyond that.
Of course, I could be proven wrong. They may allow the writers to experiment more as with the risk they took with G4. If I hear of any interesting developments on this front, maybe I'll actually commit to it in spite of the fact that I find its art styles to be highly displeasing. For now though, I prefer to think that G4's ended with the final episode of Season 9, and that this is just some bizarro vision of the future that Discord created to remind Twilight and her friends of the consequences of not doing their part.