On one hand, it looks interesting, and the world seems unique enough. A non-human based fighting game is a good hook. I wouldn't be into it myself, but it will definitely have an audience.
On the other hand, a quick look at character bios tells us Faust ran out of personality types when she came up with the Mane 6.
I'd say that the personality type problem is more a shadow of the original game than Faust lacking creativity. I'm not sure how far they were in development when they got the C&D, but after putting that much time into designing fighting styles for the characters it's far more practical to just reassign them to different yet similar characters than to start completely from scratch.