Your comments

That's always a legitimate concern. Don't want users abusing/harassing/stalking/etc other users.

I'd imagine that the user being followed would still be able to see that an account is following them (and thus be able to block them, etc). It's just that the follower wouldn't appear in their "followers" list to other users, and that account won't appear in the "following" list.


Also, YouTube already has something a bit similar, albeit an "all-or-nothing" kind of deal -- if a user makes their subscriptions private, they won't appear in that channel's subscribers list.