I think you already have received 1000's of posts with feedback, but here is a few proposals:

1. Allow coloring and transparency of the big grey part of the Featured tab.
2. Make channel comments visible on the 'Featured' tab
3. Show subscribers and subscriptions for all to see.
4. Reintroduce Friends!

Follow these 4 steps and everyone will be happy again:-)

Not in this thread, but I think the algorithm change is a big mistake also.