I think the Uffington White Horse is a megalithic site! It was dated to the bronze age by an optical luminescence test. It is earlier than the iron age hillfort, that's for sure. Dragon Hill is a natural outcrop, rather than being man made, a stunning natural feature in a stunning area of natural features (manger, giants steps etc). I suspect it may have been artificially levelled by human hands.
The turf on top of the chalk is very shallow on the hill. It doesn't take long for the grass to encroach back across an unused path. If it was used in the Neolithic, then lack of use would have caused the grass to grow back pretty quick - unless of course there is a tradition of scouring from the Neolithic, through all the bronze ages (and copper!) and onto the Iron Age!
I think John North's book has many interesting theories in the realm of archaeo-astronomy (including Waylands). Theories take time to take hold and be acccepted (once upon a time, they thought that the White Horse was cut to celebrate the Saxon victory over the Danes)
These are just my thoughts and 'tis an interesting thing you pose and has got the old grey matter ticking.
Maybe it's a Cat?
WF ;-)
Having now been "in" or "on" the horse and its geography, we have what might be a new theory. To wit: the neolithic site comprised the leveling of Dragon Hill*, below the horse, and a processional path(s) up to the top of the hill. It's pretty clear the tail of the horse "points" toward Dragon Hill. The path(s) were worn into the chalk through use, not as a work of art. See John North's new Stonehenge book for a discussion of viewing the setting of certain bright stars behind the hill. Something was being done on the hill in conjunction with this viewing, or to prepare for it, etc.
When Uffington Castle was being settled, the Iron Age people saw the path(s) and decided they looked like a horse/dragon, and cut the present design.
*A predecessor or imitation of, or site of similar function as, Silbury Hill? How many other "level top mounds" are there