too much overexposed area and lack of some focus... which is the subject of this picture?

Nice capture.....but needs a stronger main subject.
Carlos

To me the subject is what in focus. Here it is the dude in the front. But he faces the other way, and mostly cropped out of the frame, making a not so interesting subject. The rest of the people do contribute to the 'street atmosphere' but not much to the composition. And then, as mentioned, the over-exposure is too harsh.

You need to pick an interesting character, include all of him or her in the frame, take a front shot, and think about the composition. This street looks like a place where you can get good opportunities. Go there, take 200 planned shots, you should be able to get one or two exciting ones.

Sorry Eyal (Roadrunner) but trying to do a planned street shot may be "a philosophy" but I think you get the best "street shots" from not planning to much. Still take loads of them. I have one soon coming up.

It is like with birds. Just sit patiently and wait for a good target to show up.

This one is not working for me. The only target in focus is the back of the man to the right (who is also cropped a bit). The rest is in blur. I guess you wanted this but it does not appeal very much to me.

Go out there and shoot another 200....

Well the goldens above have spoken! Jokes apart I agree with them, This could work if the man wasn't chopped. Also the very bright section on the BG is overexposed and becomes too strong.
Still is nice to see another Portuguese here... we are so rare...

If his head was sideways or looking at something and you could see that expression this would work much better. His body language does seem to convey "something", but I'm not sure what.

interesting street photo... the light is too harsh