Not trying to use a click-baity title but reddit is slowly and quietly introducing another social media website feature. This is actually how Digg users revolted and I hope there's a huge user revolt and migration from reddit to <whatever site>.
From my understanding, what it basically says is, "Other users will be able to view which user you are following besides us".
It's a way of letting us know that "We do track your Like/Dislikes/Your Interests just FB does at the moment."
Hell, I'm following some GW members. The site was a nice place to be at one point in time but Privacy is slowly dying there too.
The only 'benefit' I could see from this change would be to give journalists more information for doxing and linking specific groups of people. 'BigDickSam69 follows the evil Nazi Fashy1488'. Literally no other benefit.