The problem with the Blue Fairy is that shes a deus ex machina: the writers have no idea what to do with the Blue Fairy aside from have her deliver a lesson (be a good boy, Pinocchio!) or magic up some potion that will conveniently solve whatever problem we have at the time (memory loss, August dying, etc.) Shes only around when theres a problem and because of that, we really dont know that much about her in a situation that isnt a crisis. It doesnt help matters that the only episode where weve seen the Blue Fairy in a nonsupporting role was Dreamy, which as I mentioned before, wasnt really that good.