The premise of this episode was adorable, and everyone knows someone who pretends to be brave and then has the most overactive imagination ever. Fun to watch and not too preachy on the message.
I loved the use of Luna in this episode, but it almost seemed to cheapen her character. It would be very easy to do an episode on dreams (and Luna's involvement very much felt like something out of Sandman), but I don't see the series doing that.
That the Cutie Mark Crusaders have had more screen time as of late makes me think that maybe this is finally their season. It would be anticlimactic for all of them to get their marks in the same episode, though, so we'll see. There will probably be an odd pony out.