From what I've seen it IS the new homescreen and the home button always returns to it. It appears that you can't add shortcuts or widgets to it, even if you remove all the content. I saw a video (on cnet I think) where an HTC rep was demoing Blinkfeed for a journalist and he said something to the affect that if you don't like it, you can add more home screens and scroll left or right to see them. That implies that Blinkfeed cannot be made to go away, but I'm waiting for a full professional review before casting final judgement.
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