That thing is absorbing everyone's magic left and right! If using their own might wasn't enough, how is using yours? What are the chances of him even taking that power, too?! All you end up with is an army of indebted ponies... And that's what you want, isn't it?

You're no "Freakin' Badass Overlord", you're an opportunistic little amoeba who wants to take advantage of frightened little ponies for your own gain.