)
Depends on your point of reference, really. When you judge Pinkie by the standard of her friends in the show, you get a cartoony exaggeration.
You judge her by the standard of Looney Tunes, Spongebob, Adventure Time, etc, then she's toned down.
Edit: Pony Life Pinkie isnt that different from FiM pinkie imo. Idk if she's toned down...