Just imagine it: the Princess of the Night's wings turning leathery and batlike and her pupils becoming slitted, and then she tuck eats a bowl of mangoes for breakfast using her little pointy fangs.

So, do you think that is possible?

This sounds like a conspiracy theory.

And since this is Equestria, we don’t need to explain shit about magic.

Therefore, while sounding absurd, is entirely plausible.

Doubtful...buuuuut it's a great concept

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great start of the Nightmare Night

Well, it isn't her natural form because if it were, when they gave their powers to Twilight, she would have reverted as they had no magic left as noted when Tirek tried draining more from them.

I generally headcanon the situation with Bat Ponies being that all Pegasi have such wings under their feathers, with the proper "bat ponies" being a mix of "Land of the Midnight Sun" beef-walls like Rockhoof that happen to have their ancestrally-vestigial Pegasus traits lack feathers, incidents like Flutterbat that turned out hereditary, and situations like Nightmare Moon triggering a great deal of skewed magical influence.

With regards to Luna, she has some of the first due to Alicorn hypertrophies and some of the last because of the amount of the Nightmare Moon situation that's normal to her from the dream magic talent behind the Tantabus. Consequently, her wings normally have about three quarters of the span be backed by phalanges and skin where a typical Pegasus tends to average around a third of the feather span.

For Luna, "wing-hands" is a literal and very mundane matter of just having bat-wings under her feathers quite capable of twisting a pony's head off. For regular Pegasi, it's the same reactivity behind Luna's galaxy-mane making it so that most can flex their feathers like any other muscle, and the same is behind prehensile tails in ponies.

Rainbow Dash is actually about average for "meaty" wing-span but has particularly excellent magical conduction, while Fluttershy's a little over half the length and is in the habit of wing-handing with the meat. For manhandling bears in extremely rough chiropractic treatments. Which is why the barely-ever-lifts-off animal caretaker has a completely stupid wing strength metric, because there's a lot more to just force the involved magic through and the actual muscles are utterly absurd.

7279716
In my headcanon she doesn't have leathery wings. Mostly because alicorns don't have bat-like wings ever. Though she can shapeshift into having such wings at any time.

Slited eyes and fangs ("I am predatora and could chew trough your bones" type of fangs not the cute little ones) are traits that could manifest in some alicorns, if one of parents has them. Luna's father had such things, but she was born without such traits and therefore can't pass them to her children.

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YES! I love this!