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I don't think you can hide or delete that one. I'm sure as their going to update the apps at later date for more control. But since that is tied to the PS eye i doubt their going to let us remove it. For the apps you can delete, go to system settings. Then go to system storage management and from their head you can click on applications to delete them. You can do this by hovering over the one you want and pressing the options button on the playstation 4 controller. Some apps like music unlimited and the playroom can't be deleted yet from what i can tell.
Hide apps? That would be cool, just in case you had a pron app. lol just kidding. As far as I can tell, Frantic said it all and even though the new features rock, it's all taking some getting used