The ponies are in a system maintained by Faust and her fellow colleagues who produce very high potential for exploring their magical abilities.
First, to begin with, the ponies had been in a caste system in pre-equestrian times that in a way reflected the structure of society at that time; the unicorns were the scholars who formed an aristocracy, the pegasi were the warriors who formed a military, and the earth ponies were the workers who make up the peasants, artisans and enforcers of the functions of society. It was during this time that magical knowledge was cemented into specific “groupings” related to race and talent, first race, then the cutie mark. Much of the magic lore in the G4 has its background in the pre-equestrian caste system that created a specialization that benefited the unicorns.
Secondly; their magical abilities are “categorized” into three specific areas of manipulation, that is, the ability to manipulate the surroundings for their own gain. Air; material, soil. Atmosphere, mountain, earth. The pegasi can manipulate the air elements to be able to fly, make objects light, reshape the weather. The unicorns with their telekinesis can manipulate individual objects more finely and precisely even comparisons with human hands, and can manipulate light, solid material and living material, even by being able to “override” the laws of nature. The earth ponies can manipulate plant life, earth elements and reshape minerals and metals, and their super strength is a consequence of the proximity to the earth.
This offers endless possibilities. And since the comic has revealed that Hitch can sense wildlife through the earth elements - and can move quietly to get close to frightened animals, it meant that he has returned all the way back to pre-caste system conditions. For this can be linked to survival instincts, and is basic magic from the very beginning, when civilizations were still young. This is important in encounters with predators and monsters. The unicorns’ telekinesis is much stronger than in G4, and this may be due to the fact that they could concentrate their magic much better by having so few spells, again returned to pre-caste system conditions. For the pegasi, not so much beyond the ability to fly and use single clouds at low altitude, they could look much longer than other ponies and at least have the ability to have “wing hands”.
If the emotional instability of the pony magic was completely absent, the ponies could develop very aggressive aspects of their magic for war purposes. By being able to generate natural electricity and create lightning, the pegasi can in theory create plasma rays with unprecedented high temperatures, they use lightning as a weapon in the G4. The unicorns, with their ability to manipulate light, are able to create laser beams of varying strength and Starlight could cut through organic materials. And from the Pie sisters we know that the earth ponies can make stones heavier or throw them with unprecedented strength, in practice acting as mass-driven weapons. As a star ship from Star Trek; the pegasi will be a romulan star bird while the unicorns will be a star fleet spaceship while the earth ponies will be like a reaper from Mass Effect.
But this will be left in peace as the ponies are more peaceful with the main emphasis on social interaction, tolerance within social activity and these had been “evolved” to seek friendship and peace for many centuries. Moreover, the G5 has more or less returned to the “roots” seen with a cynical view of magic, several thousand years of society had disappeared in one fell swoop. The unicorns do not remember their aristocratic and scholarly past, the earth ponies had become a versatile and multifunctional people liberated from the caste system while the pegasi are least affected as they continue with their military mentality and industrial mindset created by weather manipulation.
By understanding the rules - and then having frames around what magic can be used for in certain “areas”, it is easy to have endless possibilities to deepen the magical lore of the Pony kind. The pegasi, unicorns and the earth ponies of the G5 have an important advantage in being freed from their past, the old Equestria is gone forever no matter how much lore is preserved as old spell books that can be found, or old texts about what the ancestors had achieved.
Just like the Disney movie of Atlantis. When Atlantis went under, it was because Atlanteans had abused their crystals which from the ponies’ point of view seemed magical. The situation around the Unity Crystals in MYM points in that direction. And just like the Atlanteans, the ponies have to start all over again.