This is now an art thread I guess.
There is only way of drawing that is not a style and that is realism. Every style is applied on top of realism, so if your realism is shit, your pretty coat of paint won't save the bad structure under it. "Style" is a way to cut corners. It's an excuse for the bad artists, screaming "IT'S MY STYLEEE" when you point out something is wrong with it.
Is cutting corners bad? Nah, that's what you do to be able to draw stuff the way you want faster than if you had to perfectly render the realism. But if you don't know what is under that style, you'll run into trouble. For ponies, first look at actual horses. Then study the style of the show. The anatomy of those marshmallow ponies is definitely linked to real life horses.