Subject lines on an email are very important. Most of the time, I only read the email by seeing the subject. It kinda helps you know if the email is really important or you can look at it another time.
This new feature will help you hide labels, so that you can see the subject of the mail clearly. Here is a screenshot with the messy labels and without labels:
To turn it on, just go to the Labs tab under Settings and look for the following icon:
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