>>11934969> Keldeo is based on a Kelpie, ponyta is based on a horse. Keldeo is a legendary, ponyta is not.Why does this matter?
Ponyta was just a point of comparison, with a similar body type, to give references for the flaws in Keldeo's. Everything the OP said is accurate.
Keldeo has far too many details going on in his face and mane, and his body has very little definition. If they made the body less noodly/plasticky, the amount of detail going on in the design would work. If they make the head less crowded with features, the cartoonish MLP-like body would work. The way he's currently designed is just a mix of ideas that don't really come together well.
And his color scheme is garbage.