I think this is a pretty useful idea, a way to keep your friends list from blowing up with people that you had to add just for wanting to follow you. Now they can literally just be a follow and see what your up to without being part of your actual friends list.
I think this plays into the gameplay video sharing aspect of it.
It sort of makes it work like a youtube channel. You can now become an X1 video caster and anyone can follow you and watch your videos as you post them without you having to allow a ton of people to join your friends list.