This comes across as doing news without trying to use the word "News". Commercial broadcasters in the UK and Ireland seem to have an irrational fear of the word. In the UK, it's mostly radio broadcasters who pull this kind of trick. The Heart Network introduce their bulletins by saying, "Here's the latest."; Capital FM Brand their bulletins "Capital Reports". Pre-Global Radio, the GWR, later GCap station, branded their bulletins as The Update.
There is an ILR in Dublin that introduces its news bulletins as "Hi I'm Rory, here's The Story". I kid you not.
Yeah there's no real content changes. Incidently, just out of interest, I watched yesterday's FYI (the news programme on 3e) straight after The 5:30. I think Bout 75% of the stories were common between both with no changes other than 3e removed the "The 5:30" signoffs. One oddity was that the CNN report I mentioned was re-voiced by the female presenter on FYI whereas it had been voiced by the original CNN reporter on The 5:30. Strangely FYI's presentation is probably closer to the rest of TV3 News than The 5:30 is, though still different enough.