I thought the consensus was "Good, but not great. Wasn't worth cutting 13 episodes from Season 3, but Season 3 wasn't that great anyway."
It's sad. I just finished watching Transformers Prime's half-sized season 3, and they cranked that show up to eleven.
They also have a direct-to-Blu movie coming out in October, and I'm much more hyped for that one than I am for Equestria Girls.
Season 4 of MLP should improve things, but until then, I think I'm going to wear a Transformers avatar.