Well, it IS Hasbro's fault. They thought kids would like her more if she were a Princess, since Princesses are painted as perfect and good. And Queens are usually evil. At least it leaves things open for interesting fanon.
That's usually the case in most shows/movies/games, the fans have the perk of not being restricted by the setting of the storyline, and aided with our imagination coupled with crossovers, pairings and original storylines and characters, we can make stuff the creators never thought of, or were just restricted.
She's my favourite princess, just a smidgen more than Luna. I agree with you on that one, but then fans would demand a Luna episode. Even though she technically has had her own episode, or at least been prominent in a few of them.