People talking to people is what really counts.
Should I regard "People talking to people" as "what" ?
Is it possible to see "People talking to people" as a subject in the sentence? If so, would you make similar sentences as well?
Yes "people talking to people" would be the subject of the sentence. It's a noun phrase where "people" (the first one) is the head noun and "talking to people" is a non-finite clause functioning as post-head modifier. You can certainly form other sentences like this one, and they would be perfectly grammatical.
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