What can I say...?
The art, the quality of the voice acting and the choice of music were all good, but the concept itself, well...
I understand that the purpose of the movie is to make a point (memes are a cheap way to try to get laughs, and they're so overused they're not funny anymore). But apparently you guys didn't do a very good job making that point clear.
Honestly, the first time I saw it I thought it was more a "tribute" to the memes than a parody of them, and I chuckled a little, but the flash was over so quickly that I got confused at the end.
Overall, I think it wasn't as bad as other stuff I've seen, I kinda liked the memes you chose (although falcon punch is kind of old). The flash as a whole is okay, it wasn't very clear what your intentions were, but at least you tried. It's 7/10 and 4/5 this time.
On a side note, according to Know your Meme, MLP is now considered a "subculture", not a "meme" anymore. Not sure if you knew that already.