To me that feature just looks like a way to add RSS/ RSS-like functionality to links a user wants to share or posts a user has participated in... it can be used for self-promotional purposes, but it doesn't have to be.
My biggest complaint (and something I worry about when they talk about redesigning/reimplementing the site) is that the page just isn't all that great.
It's slow to load (where the old overview page was pretty much instantaneous), lacks features (though two more clicks will get you back to the superior overview page), and at least to my eyes, it's even uglier than normal reddit (though admittedly this is mostly subjective).
If this is what happens when they roll out new features, I worry that the rest of the site will wind up like it once they do their redesign.
I think they've been trying to change that recently; they've been focusing more on content creators - people like Shitty_Watercolour who are known Reddit-wide for the original content they post. As you noted, they launched a new type of profile which basically turns it into a subreddit, which they're pushing as a way for content creators to post their works easily.[0] The feature is still being developed but is now available to more people.
To be clear, the feature is a good one in concept, but I think the fact that they chose to market the feature this way as opposed to marketing it as "bringing old-school link blogs back" or similar says a lot about how Reddit wants to change its image.
[0] https://www.reddit.com/r/announcements/comments/60p3n1/tldr_...