Regardless of your selection of phrasing, how the quality is perceived will vary depending on your audience.
The whole point in making subtitles is to communicate the meaning of the video to the viewer. Some Japanese words are used so commonly that the audience is nearly guaranteed to understand their meaning. "Atari" is a good example. Almost everyone that plays go knows what "atari" means. So if you use this directly as a verb, you convey the information perfectly to the viewer. If someone knows all Japanese words, then you can use all such terminology in the same manner - they will understand you perfectly.
But let's say that Joe Schmoe, go video junkee, is watching the video. Joe knows go, so he knows what "atari" means. He knows it as well as any other English word he knows.
But let's consider "nobi". Let's assume it's a less common word than "atari". Then there are different levels of understanding:
1. Joe knows the meaning, but it is not ingrained into his vocabulary as much as other English words (like "atari" may be). In this case, it'd be good to say, "play nobi". This conveys to Joe, "play this concept you aleady know - it's a move called 'nobi', remember?" In his mind, he's like, "Oh yes. Play the concept associated with this Japanese word - it's called 'nobi'". Yeah, I know that."
2. Joe kind of knows what this is, but doesn't quite remember (Eg. Is "nobi" a move, or is it a way to describe the board...?). In this case, it'd be good to say, "Make the shape in Japanese known as nobi". This conveys to Joe that this "nobi" word is a Japanese word, associated with a shape.
3. Joe has no idea what "nobi" is. In this case, better have an English word or description. That way he can understand.
4. Joe knows "nobi" just as well as "atari", and just as well as any other English word. In this case, go ahead and use it as a verb.
So basically, there's an order of progression:
"nobi" (as verb) > "play nobi" > "Make the shape known as 'nobi' in Japanese" > Some English description (eg. "solid extension", maybe?)
I think, the greater the audience understanding of the word, the more you should aim toward the left on this scale. The less the audience understands about the term, aim to the right.
In Japanese, these Go-terms are used as nouns, so I would like to suggest to do so in English, too.
I disagree with this argument. If you are communicating in English, you should fit foreign words into English grammar. And in English, if you have a particular technique/move that you can play, it can be used as a verb (eg. He dribbles down the court). Japanese also does this with borrowed words - the words are fit into the existing grammar structure. For example, "ジョギングする". This treats the borrowed word "jogging" as a noun in cases where it'd be much more natural as a verb in English.
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tl/dr: Prefer to treat techniques/moves as verbs when the audience understands the terms fluently, because this is how it is done with tequniques/moves in English. If the audience has less understanding of the term, move to the right on this continuum:
"nobi" (as verb) > "play nobi" > "Make the shape known as 'nobi' in Japanese" > Some English description (eg. "solid extension", maybe?)