If I remember correctly, the producer actually wanted a more overarching plot like in the first few episodes, but it got shot down by the higher-ups because they wanted the episodes to be viewable in any order. They might be picking up on that 2nd season.
Also, yeah, the real focus of the show is the character interaction. I think that's where a lot of the show's fans get hooked; each of the ponies has a pretty strong fan base.
Also, I just watched the episodes in order on Youtube.
I think Applebuck Season might be a good starting point; it doesn't require a whole lot of familiarity with the characters to understand, and it has a good balance of dialogue humor and physical humor. Sonic Rainboom is another good one; probably has the best intro out of all the episodes.
EDIT:
![[up] [up]](https://static.tvtropes.org/pmwiki/pub/smiles/arrow_up.png)
I think it can be fun to do extrapolations of stuff in the show, but there's no way the show is actually espousing politics like that. Like was said before, it's more of a "you get the most done when everybody works together" kind of thing. We can't take it too seriously.
edited 7th Jul '11 2:27:24 PM by JapaneseTeeth