I find this stressful to think about, but something else to consider is if itch.io is going to alert everyone every time a file changes, this is also stressful and noisy since you're not telling them how or why the file changed... so in my case I'd prefer to not be the source of these notifications (it's not really about my privacy but not wanting to buzz or disturb or make people have to stop to think, this is impolite) but if I were to want people to know my uploaded file changed, then it seems reasonable to input a comment on the upload to explain why it's being changed, and in the absence of this, telling people it changed doesn't help them at all... all they can do is download it and wonder what changed, that seems not a net-net good of any kind.
As for subscribers/subscribing, whether to publisher or product is not really important (granularity) but it seems like listing all dev-blogs puts a terrible onus on the blog writer to say something worthwhile, I'd much prefer to write a utilitarian entry, in which case I don't want mine to be listed alongside more interesting blogs, since that degrades the value of the public listing (which I might want to be in order when I do write something more substantial) and most of all makes me ask myself if I can afford to write my plain blog at the expense of others'.