No it doesn't. It has a few protein sources (whole animal meals like krill) and then one grain in the whole food which is a binder, something EVERY food has to have or it will not stay together. It also only has ethoxyquin as a preservative in the meals only as required by law, not added to the food as a whole (most foods add much more of this and other preservatives).
Omega One has more grain ingredients than NLS.
Has anyone ever seen a mandarin eat NLS? How about a fire eel? Anyone had galaxy rasboras breed on accident while eating NLS exclusively? How about crayfish? NLS can do what other foods can't, over and over.