-Mostly appealing aesthetic. It's not gonna win any awards, or anything, but the horses are pretty, and the foals are cute, even if the player characters look like they walked straight out of Halloween Town.
-Mildly entertaining. What little gameplay there is manages to keep the brain kind of stimulated.
-Tedious. Getting money is a grind, especially given how expensive everything is. A lot of upgrades are purely aesthetic. Breeding a level three horse took three hours. Questing only yields so much money, and upgrading your well so you can keep more horses and earn money faster is surprisingly expensive.
-Adding to the well bit, expect to sell a lot of your horses to make room. If you have a child, make sure they don't get too attached to their first pony, because your little unicorn is gonna have to go to the glue factory if you want the space to breed some level twos.
-There's not a whole lot to do while all of your horses are out working. If the wait times were longer, and the yield was higher, at least I could do something in the background, but they manage to be just long enough to be annoying while simultaneously being just short enough to force you to remain on standby.
-Quests are pretty much all the same, save for the length of time they take to complete and the amount of money they earn you. You'd think that, given how little effort it must have taken to code each one - seeing as your horse does nothing but disappear for a bit and return - that at least they could give more variety to the descriptions, but there are only about four or five to choose from. Selling your horse counts as a quest, so don't be surprised if you accidentally give away your painstakingly-bred demon steed for a fraction of its actual value.
-Racing is only marginally more entertaining than quests. At least it gives you something to look at, though what it gives you isn't much. It doesn't help that it's faster to skip the dialogue box than watch for the millionth time as lil' Pegacornelius IV takes the 1 place.
-All three training games play and look exactly the same save for a few minor aesthetic differences, and one of them you'll never even have to use. The obstacle course one raises your strength and dexterity, and the forest one raises literally everything else. There's no skill specialization, here; you have to max them all in order to breed, so playing the third is just an inefficient waste of time. Given the slow, SLOW pace of the game, time-wasting is the last thing you want to do.
Conclusion: Children might find it marginally entertaining, but they probably won't have the patience to finish the game. I'm not sure that I even have the patience to finish the game. With that said, I hear that this makes a great joke purchase for friends, especially given the low price.