The major problem with the feed is that it's just not very helpful. A lot of the time I'll see an update to my feed when I check itch, and it's just someone who "Updated page content" which doesn't really say a lot and is usually unnecessary. I like the feed but feel like it needs to have more of a purpose.
One problem that I always used to have with itch is the lack of connection between game player and game developer. With the addition of the itch community, game comments, and individual game communities, that part of itch has improved, but the feed could still use some help. Maybe the feed could double as a blog that lets devs make posts about game updates, postmortems, anything really, and allow followers to comment. There could even be a feature where a dev can choose to only send certain feed posts only to people who've bought a game? There's lots of ways to do it.