It seems like he's a player that has been brought in for preseason games 1.) As a camp leg 2.) As an injury replacement kicker for the starter.
It seems like he was never really going to replace the starter when he had his opportunities. Thus, cut when the 53 man roster came due.
It also seems like he made the most of his chances, missing only one long FG and two extra pts.
Now he has a chance of a lifetime being relied on for the regular season and hopefully playoffs.
This is the kind of situation that could be a good story for the kid if he does well.