It is simply a carbon copy of 60 seconds on the old BBC Three. Except there's only two bulletins instead of running all evening. Seems to have been done solely with the aim of keeping some sort of news presence on RTE Two.
There used to be two, now I think it's only one, at just before 7pm.
Also, 60 seconds was always voiced live. The whole out of vision part of Newsfeed, is not voiced live, it's pre-recorded.The difference in tonal quality between the anchor segments and the out of vision segments is a dead giveaway.