I don’t see a problem with the idea as long as you’re aware you’re committing to be the one maintaining it and dealing with any problems that might arise from doing so.

If you’re storing other people’s data (especially photos) you better be extra sure that you have a good backup strategy and a plan to test those backups regularly.

There are several reasons.

1. As others have commented - centralization. I have ONE place that I go to catch up on the internet. I don’t have to remember to check the 30+ ish blogs that I’m following.
2. It avoids any algorithms, so I only see what I have chosen to see.
3. Did you know that each and every YouTube channel has its own RSS feed? It’s far more reliable than YouTube’s own notifications.
4. It’s a far more pleasant reading experience than most websites.