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Dat cover.
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Oh, yeah, I forgot about that gag!(I’m surprised I would forget a dietail like that on my favorite episode!). So, yeah, the Equestrian language is most likely an analogue to English.
Also, I have in my headcanon that the griffon’s official language is a French like language, based on the only officially named griffon’s (Gilda and Gustav le grande) having French names. (Also headcanon, Gilda’s full name: Gilda Marquette Clemont)
There was “WELCOME PRINCESS CELEST”, and most visible writing seems to be based on English. I can’t be bothered to write up a full analysis, but it seems like the writing is English, with a script based on the Latin alphabet that allows for liberal use of ligatures and mirroring.
The meta reason for that is so the show runners don’t have to go back and do a bunch of editing when they go to run it in another language, all they have to do is dub the voices and its ready.
As far as in universe, my guess would be it had to do with distance and the words/symbols just seem blurred as we were not looking at it closely enough. Oddly enough, we don’t even know for sure what the actual Equestrian language is, if it’s based on English or any earth languages, or if it’s something else entirely, and that we are simply hearing a translation.
Someone needs to edit this cap to have storylines typical of Cosmo subject matter.
Turns out magazines in Equestria get into photoshopping their covers as well