If you are just going to browse videos to embed you can do it even from Google if you wanted to, which loads faster anyway. But that has nothing to do with the new homepage.
Point here is the homepage is where you (used to) manage your subscriptions and get recommendations and previews faster without having to scroll through pages upon pages of videos.
Now you get endless unnecessary spam from subscriptions without any way to turn it off or close watched videos. Instead they make you filter it by subscription and by uploads/activity. They also made it so you can only see a few of the videos in the feed, which are usually filled just with one channel's activity. So you have to keep scrolling down or keep clicking on each and every individual channel button to see if people has uploaded anything you are interested in.
This obviously doesn't show if you only have a sub or two, but if you are subscribed to more than 10 (active) channels you get spammed faster than you can say loltablets.
The old HP allowed you to manage everything from a single freaking page.
Then there's the freaking obvious attempt to force people to get subscription after subscription (which would add even more spam to the main "feed") in a system that makes it even harder to find the less popular channels while boosting the popular ones.
And that's not even going into the UI itself and the new and improved layout.
So yeah, I have too many reasons not to like it this time around.