I'd argue it does removes steps and make things easier/clearer
Compare following your feed to following you on Twitter. Since you do not expose the feed itself (which is good!), if someone wants to follow your feed, they have to guess that they need to copy your main url, open their feed reader of choice and paste the url in the right spot. They also have to hope that their feed reader of choice is smart enough to find the feed url (not always the case).
With SubToMe, they just have to click buttons and the intent is clear!