Feeds and Migrate were two primary contrib modules used for data import since early versions of Drupal. Quick comparison of two modules: Feeds module has great friendly UI that allows site builders configure and import data, Migrate is built for developers with power to perform complex backend data processing but UI for this module was less than ideal.
In D8 migrate module is in core to support one-click upgrades from earlier Drupal versions – great news. In the hallway of Baltimore DrupalCon maintainers of Feeds and Migrate started conversation about using migrate engine to power Feeds UI – seems to be a win-win solution for everyone – developers, site builders, content managers, end users.