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This will only work if you have 100 or less subscriptions.
Essentially it allows you to import your subscriptions to your main account from your brand. Currently Youtube 2.0 does not support brand accounts
@Jecht_Sinwrote that YouTube 2.01.04, which has been released yesterday, supports brand accounts, even though the changelog doesn't say so.
I don't have such an account so I can't verify that.
Yup. I confirm that I am (finally) using effectively my "brand account", now. It asked which channel/account I wanted to use immediately after launching it after the update.
I'm not sure why the description in Google Play still says that we must wait for it, though.