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G4 might not be considered a "classic", but many of its items are highly sought after and can be sold for a large sum.G4 is still going quite strong, dare I say, it is bigger than G1. Many Hasbro collab product is still G4, and since G5 underperforms, the official MLP YouTube changed their banner to G4.
Regardless of all of those production experiments, I understand what Carrehz meant simply because G4 was a streamlined effort in both media and toy production. There's a difference between discovering a detail you never noticed before in an animated episode of a series, and trying to make sense of how seventeen different countries did completely their own things for reasons we're still trying to figure out.
G4.5 is the Pony Life era. I have no idea why people thought that the later toyline of G4 would be a pont-five generation, no offense, but it's just the end of G4, I'd say - I don't know how "official" the generation numbers are, since the fans started the term, but I feel it makes more sense to have Pony Life (it's own era, toyline, and cartoon) G4.5 than the latest toyline of the Friendship is Magic era, which fits into G4 and hadn't ended yet, (if this doesn't come across, I know that the generations aren't governed by their cartoons.)That being said, I get what you're saying about that toyline, I think - the looked more like the show (again, I know the toyline is important first) so it would have made sense to make them first, or at least have them appear earlier than they did.