Wow. This is new. Do I understand it correctly: They'll directly debate each other (with no time limits) other than the 10 minutes?
That's my take, although I think Holt will step in to try to give them equal time. The intention is, I think, they confront each other on their statements or answers given in the 2 minute periods.
I think the format will break down, and Holt must have many more than those six questions.