Additionally, clicking on "Done" once you're in the notification-specific page will navigate you away from the current page back to the notifications list. This is pretty disruptive to me.
Granted, I keep inbox 0 everywhere so my habits may be different than average.
I like that the notifications are removed in realtime from the list if you click "Read" there. (However, possibly due to varying line lengths, the page sometimes jumps while marking each item as read in the list. This is annoying.)
My guess is that the product team had a solid UX in mind but the engineering team was pushed to release before it was polished enough to be a solid improvement on the existing system.