My first thoughts watching this episode were that this would make a better first episode than Ticket Master. Applejack is the first of the Ponyville ponies that we’re properly introduced to in the pilot, and it would make sense to have an episode about her come first too. But also, given that we have a conflict affecting just one character rather than all of them at once, it gives breathing room to fit in other character building too. Twilight’s stack of cue cards and Pinkie’s reaction to the stampede are both great little moments that say quite a lot about who they are, and I just feel like there wasn’t as much room for that in Ticket Master. And naturally the episode establishes a lot about Applejack’s character – though I will say it’s maybe easier to see the issue as being more balanced if you watch Ticket Master first, as if you see how hard Applejack has to work to keep the family farm going… Well, I’d certainly say it makes a strong argument for Applejack needing the money from the Gala stall. The cows being intelligent was an interesting detail that many people have noted before – since we know the ponies use milk, my interpretation is that the cows are allowed to pasture near Ponyville in return for donating their milk. It does raise a question though that I’ve considered before – is Ponyville an agricultural village, or a small town? The only farm I recall being in Ponyville is Sweet Apple Acres, but by that same token I’m not sure what else their economy would be based off of, being a mainly Earth pony community. Perhaps it’s a situation where it began as a farming village and is in the process of growing into a small town, attracting Pegasi residents and most recently Unicorns, and with new shops like the bakery and Rarity’s boutique opening. I live in a town a bit like this irl, but the thing is that our economy is not insubstantially boosted by tourism (and in fact recently with tourism dropping, something like half the shops in town have closed, and most of the office buildings too) but Ponyville doesn’t seem like it’s much of a tourist stop – at least not at this point in the show.
I also have questions about this “Prized Pony of Ponyville Award” – is it a regular award given out annually? The implication seems to be that the award ceremony was planned in response to Applejack saving Ponyville, and not just coincidentally coinciding. So I guess it’s something like a Mayoral medal of honour? It also makes me wonder if any other ponies have received the award. Surely all 6 of the Mane 6 have received it? And frankly Dolores Umbridge and her wife Trixie Umbridge would be highly eligible too, after saving Equestria from the Changelings.
Another interesting detail I noted is after all the ponies who ate Applejack and Pinkie Pie’s botched cupcakes get sick, Nurse Redheart mentions that she asked for Twilight and that they need all the help they can get. Does that mean that Unicorns are regularly asked to help with medical emergencies, owing to their special skills, or is it Twilight that’s uniquely qualified in medical spells, OR is it just that she’s essentially a Civil Servant, such that notifying her is like notifying the government? The last one fits with her role giving a speech at the award ceremony earlier – certainly whatever Twilight’s role is in Ponyville, she’s more important than just the average pony.
The last detail I noted is that both this episode and Ticket Master end with a “gross little brother” type gag with Spike – in Ticket Master it’s Applejack thinking that Spike’s pretending to feel sick at the display of emotions, and in this it’s his proud declaration that he dug the cupcakes out of the trash and all the Mane 6 going “ewww”.
Overall, very solid episode, good clear lesson. I'm not great with ratings but this is where the show is starting to feel like it's getting into the swing of things.

Oh yeah - and why do all Applejack's barrels/buckets have a hole in them?