Well, for me, it comes down to this. The show is fun and enjoyable. It's happy, it makes me smile, and it's entertaining. I don't care if other people think I'm less manly for watching it, because their opinion was never relevant to me.
I'm not at all what you would call a small guy. I'm 6'1", fairly muscular, a fairly deep voice, and I tend to be too lazy to shave. I'm also typically a loner, and I don't act out in public. I've been told that I intimidate people that I don't know just by existing. But I still don't care if people find me less manly for watching the show. I like it, I enjoy it, so I'll watch it.
It doesn't hurt that there's lots of cool stuff being made by the fandom. I'm really looking forward to My Little Pony: Fighting is Magic. Why? Because it looks fun. Being free doesn't hurt either, but it looks like a great fighting game. There's also plenty of music that is of a surprisingly great quality, and I have enjoyed much of the artwork that people make.
Edit: I should clarify, in case anyone misinterprets what I mean. When I say I don't care what people think of me for watching it, I mean I honestly don't care. I don't watch it to be different, or to stand out. I watch the show because of what I said before; it's fun, enjoyable, happy, entertaining, and it makes me smile.
