UPDATE: Vox Day, the co-ordinator of the Rabid Puppies, has made public his voting preferences for the Hugos' ranked ballot. In addition to voting for himself, he has ranked My Little Pony first.
Hmm... I shall wait and see. For now, there isn't a whole lot of controversy or drama~ Either the Sad Puppies are changing, or they're mocking MLP.
Most of the drama at present is in the Science Fiction fan camp. I don't think SF fans blame bronies for co-opting the Hugos. They know who is responsible. I think, instead, the Puppies nominated MLP in order to mock what they see as the state of Science Fiction fandom.
Update: The Hugo Awards were presented this evening. The Best Dramatic Presentation - Short Form Category was won by the series Jessica Jones for the episode "AKA Smile". How many categories ultimately get "No Award" is yet to be determined.
Update: Full voting details of all Hugo Award categories can be found here. For the Short Form category, although MLP finished third in the initial round of the ranked, preferential ballot, it ultimately finished last, in sixth place, two places behind the "No Award" option. As many have already commented, the greater SF fan community has roundly rejected the attempted hijacking of the Hugos. Thankfully this year they did so with far fewer "No Award" results, but it did also result in a flat, though not unexpected, rebuking of MLP. I have no idea if we'll be continuing this discussion next year, but until then, that wraps up what I have to say on it.