Yes, but most users don't own sub-reddits. Almost all sub-reddits are user-created and owned, and they can have many moderators who are always users, but most users are lurkers, commenters, or people to post to various sub-reddits which they don't own.
A little. Users obviously have unique identities, and you can "friend" other users and view stuff they post or have commented on. Except in the case of Verified users (who are usually celebrities), there is little interest in knowing a user's real identity (unlike Facebook). There is a "friends" feed you can view which includes recent posts by all of your friends, but I dunno how widely used it is. A very small number of users are reddit or actual celebrities. It seems like most users just follow sub-reddits and aren't super interested in friends feeds, whereas on facebook it is all about friends feeds.