Can Someone Explain “Bronies” to Me?

I’ve recently been made aware of a certain segment of the population known as “Bronies” or the singular “a Brony.” It’s a term for a male viewer of the My Little Pony: Friendship is Magic TV show, and I think I have to be missing something here.

Are these guys that genuinely love the show for some strange reason? Or is this some sort of big hipster inside joke that’s going over everyone’s heads. I haven’t seen the show myself, so maybe it’s possible there’s a show about rainbow colored ponies that’s actually worthwhile, but it just seems like a strange thing for there to be this dedicated of a group devoted to. Why does this not exist for other shows aimed at little girls?

Something is amiss here. Can any Bronies in the audience shed some light on this?