Your subscriptions aren't right in front of you, those are just recommended or recent videos from your existing subs, and even then, it's limited and random videos from their lists. To get to your subs, you have to hit X to pull up the guide, then scroll down till you find your subscriptions, and then slowly move over to the video within their list. Oh, and the action to go from video to video is MUCH slower, and you can't skip large chunks(3-4 videos at a time), you have to go from video to video. It takes FOREVER.
But once you get into a subs channel, it is a little more categorized, but it's still off. Again, the 360 does a much better job at it than any console I've seen. This one is just way too slow, and the homepage is cluttered and ugly.