To answer my own question finally, I had seen a lot of random pony stuff around online. It was't until a relatively long pony thread (mostly just pony pics, mind you) showed up on the League of Legends forum. The game developers were even involved in the thread... That's really what made me sit there thinking 'What is this about, anyhow?'
Then a few weeks ago, I was in this one chat (not furry or pony related) and somebody linked the pilot episode. I watched the first one, and thought 'well, I need to see the second one now, cause this story has me intrigued'. Well, when they up and resolved the whole story line from ep1 in ep2, I was kinda dumbfounded. Thinking "That was it? What else will they do?"
Finally, I was talking on the phone with a friend who had seen it all already. He asked something about it, and told me to give it another shot and watch ep3 before I give up on it. I did that, and never looked back.
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On the question about the toys: Yes, some people have definitely started buying/collecting them simply due to FIM. But like with all things, it varies. I myself don't think I'll ever buy any of that stuff. Some people might just pick up a small toy of their favorite pony. Then some people will try to collect every last official FIM related merchandise in existence.