Previewed at WWDC, launching in the fall.
Apple Releases 11.2.1 iTunes Update to Fix Hidden '/Users' Folder Bug
An update just popped up for me. iTunes 11.2.1 in the App Store. When it was done installing it had a little pop up about iPhoto Library. Now the User folder is showing up again.Users can update to iTunes 11.2.1 via the updates tab in the Mac App Store or through OS X's "Software Update" drop-down menu.