I guess I would depend on who I asked. I know there are members here with much larger collections than me and to whom ponies are a much more important part of their lives but non-collectors, if I start talking about ponies or showed my pony shelves, might think I'm crazy obsessed.
I feel I'm pretty moderate. I currently have 280-ish pony figures, I like to be knowledgeable of the toyline and show, I choose what I buy carefully and don't feel I need
everything (only collect G4), I've seen every episode of FiM but some of them only once or twice, I like picking episodes apart occasionally but wouldn't say I'm emotionally invested, I wouldn't be devastated if G4 ended. I do visit the arena every day just about but I do have other hobbies, interests and priorities. I love ponies quite a lot but I don't think I'm obsessed.