https://www.youtube.com/watch?v=Nol8kKoB-co
I believe Joanna from Qubes also set-up this forum for discussions on secure operating systems:
Joanna also talked a bit about the trade-offs between the two here:
https://secure-os.org/pipermail/desktops/2015-October/000002...
I believe initially there were some discussions to integrate Subgraph into Qubes as a TemplateVM (just like the Debian VM, Ubuntu VM, etc), but the Subgrapth guys thought Grsecurity wouldn't work well with Qubes OS. I think that situation has improved, and there is some progress in making Grsecurity work with TemplateVMs and AppVMs.
https://twitter.com/Phoul/status/801114260881424384
However, even if it does work, I'm not sure how excited the Subgraph guys are about making their OS "just" a Qubes OS TemplateVM. They may think that's the wrong business strategy for them as a company. I'm just saying this as someone watching from the outside. They may actually not believe that at all.
However, I did also notice the relationship between the two projects got a little colder, at least for a while, and in public, after Edward Snowden called Qubes his preferred secure OS.
As for Subgraph in Qubes, being a template OS, etc, maybe later? We haven't even had a real release yet and are still building. I wouldn't recommend it anyways unless all of the Qubes VMs have hardened kernels by default.
Even if Snowden called out Qubes, you have to decide on your own security level which system is best for your needs.
Read: https://www.qubes-os.org/doc/vm-sudo/
The issue isn't only with trusting Xen, but trusting it so much that it makes all other security features meaningless.