They are similar but not quite the same, reef foundation like any other Ca, Mg and Alk program can be dosed automatically but you need to do some testing for the first few weeks to get your levels right and then calculate the required dosage to keep them stable, dosing as much as the tank consumes so that they don't vary much. It can be a little finicky but it's worth getting it right!
The main difference I think is in what goes into the products, while Red Sea make it fairly comprehensive in terms of the minor and major trace elements they add to the reef foundation series, it's not quite the same extent as some of the balling products. For instance I use the Fauna Marine Balling Light system, only the calcium and carbonate mix at the moment though as it's a trial before I move on to dosing it all and I know that they pretty much have everything in there in the correct ratio's, the instructions and methodology behind it is also far more extensive and accurate that what I read and seen about the reef foundation program. I can also tell you that the FM range is much more pure and is all made in scientific labs with hugely high accuracy's! Not saying that Red Sea isn't but I doubt it's to the same quality as what FM get it to
For you, I would go about testing your parameters and seeing what kind of usage your tank has for Ca, Mg and Alk before buying any dosing products as you don't have a large amount of corals yet or sps corals yet so I would think there wouldn't be much requirement for it, especially if you are doing regular water changes
Have a look at it all and let me know what you think