I think the arrangement of the title could be better - the design isn’t quite centered on the text, which isn’t large enough, and the girls on the left are a solid block with no real interaction. Nightmare Moon’s long wing isn’t quite elegant enough.
 
Final Fantasy title cards are simple and eloquent, and some of the more iconic ones eschew the characters to instead illustrate an important central concept to the story or setting.
 

 

 

 
(I know the last game sucks but its logo is great. Kind of wish it had been the original FF4 logo since it applies just as well.)
 
Personally, I would have combined Celestia and Nightmare Moon into two sides of a single seraphic emblem, and overlaid the Elements of Harmony (the circular gem configuration, not the ponies) on top of them.
 
Alternately, I might have placed only the six girls in low-detail similarly to Final Fantasy Tactics:
 

 
Also, perhaps it could have “Friendship is Magic” subtitled beneath the line in the text. This would have the added benefit of covering up the relative lack of detail & auto-generated gradient on Nightmare Moon’s wing.

I, Nightmare Moon, will knock you all down!

This is one of my favorite pony pics since the beginning, ant to this day I like it a lot.

Cue the music!:https://www.youtube.com/watch?v=qHoM6EfsUdM