They're all filtered into a single folder. I can read them from any of my email clients. K-9 on my phone, Thunderbird on my laptop, Roundcube webmail on my work machine.
I don't have to install a dedicated feed reader. I don't have to use a web based feed reader.
I read an item on one device, it is marked as read on all of them. I delete an item on one device, it is deleted on all of them.
Before anyone suggests Thunderbirds built in RSS feed capability, it's rubbish. And it wouldn't let me share feeds cross-device, so it doesn't meet my requirements.
In fact, I'm following many more blogs than I did with GReader, and I can skim through much faster than I could with GReader.