Names in Equestria have magical powers and, when conferred upon a pony, will grant that pony a personality and abilities that match with it. Intelligent ponies, noticing this, have made use of it to maneuver themselves into positions of power, which is why particularly rich ponies have names like "Fancy Pants" or "Filthy Rich" and are at the top of society.
Still, on topic, we don't know that the graphics changes haven't already been done... but on the topic of less clothing being good, I'd like to point out that in fantasy, sword beats gun and bikini beats armor (especially if you can deflect bullets with your sword...), and if your enemies fall over laughing at the sight of a katana-wielding girl charging at them with no more defense than a little bit of chainmail over her privates, it's just that much easier to get rid of them. XD It's a game, after all. I'm not taking things like appearance too seriously.