I've watched all of the episodes, it's fun, I don't exactly find it to be the gem everyone says it is but it's not bad. I would say it is definitely trying to be 'Cute' first and 'Funny' second, which makes sense given the target audience.
I think so many people are going crazy over it because it is 'better than it should be', as my brother put it. Which is to say: It's a show for little girls, but there is still just enough entertainment value for older audiences to not shy away from it. Like a reverse hype, people expect it to not be entertaining, so any amount they do find from it is multiplies by the 'Wow I can't believe this is actually good!' factor.
Although I think it helped that so many Cartoon buffs were actually psyched over the series simply because of Lauren Faust.
I don't really think people are simple though, so personal taste does probably play into a greater factor. I don't, by any means, think that the show is bad or that people are 'wrong' in enjoying it. Like many good things, people tend to make it out to be better than it is though.